Treasury Secretary Steven Mnuchin announced today that the IRS has extended the national income tax filing day to July 15th. The filing deadline now coincides with the federal tax payment deadline that was extended by the Treasury on Tuesday, March 17th. This is great news, as it gives all taxpayers and businesses additional time to file returns and make tax payments without interest or penalties.
Glenn Hegar, Texas Comptroller, made the following statement regarding state income tax returns and payments, “This is a complex and rapidly evolving situation. Many of our fellow Texans are facing devastating economic conditions as bars, restaurants, retail outlets and other businesses make difficult staffing decisions. The economic impacts are currently the most visible, but a more pressing concern is simmering behind the economic concerns…As part of that pulling together, I ask businesses to remit the taxes they collected from Texans by the established due date. We will examine each tax due date as it approaches, and I will keep lawmakers and all stakeholders informed as the agency evaluates rapidly changing conditions.”
We recommend our clients visit the Texas Comptroller’s website for more information.
Please note that Calvetti Ferguson will continue to prepare returns as if the original April 15th tax deadline was still in place. We will keep you informed as changes occur or become clarified. If you have questions or concerns, please reach out to your CF contact or click here to submit a contact form.
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