GLEN ROCK, NJ - Some happy financial news during a less than happy time: the IRS is extending this year's tax deadline by 90 days in direct response to the impact of coronavirus on the economy.
The U.S. Secretary of the Treasury announced the tax reprieve today which will extend the current April 15, 2020 tax deadline to July 15, 2020.
On March 13, Congressman Josh Gottheimer (NJ-5), along with Congressman Paul Mitchell (MI-10), asked the IRS to extend the individual and business tax filing deadline by 90 days to provide certainty for individuals and small businesses and relief from filing and payment penalties during a public health crisis and volatility in the market.
“I commend the IRS for following through on our request so that we can allow North Jersey residents more flexibility to pay for their housing, child care, and medical care, and to help small businesses pay employees at a time when consumer demand is unpredictable,” Gottheimer said. “It is vital that our federal government be taking immediate action like this to provide certainty for individuals and small businesses at a time when we’re facing a public health crisis and volatility in the market.”