Tax deadline pushed back this year

On Behalf of | Mar 13, 2020 | Income Tax

This time of year, taxes are on just about everyone’s mind, as the deadline to file is fast approaching. On March 12, however, it was announced that the April 15 deadline for this year’s tax season will be pushed back. The new deadline has yet to be announced, but this may help those in Connecticut and elsewhere who may struggle to meet their tax obligations this year due to the current state of the economy.

The change to the tax deadline is said to be temporary. It is just a way to offer taxpayers some relief while the country recovers from the new coronavirus. Some believe the new deadline will be between June and October. The exact details will be released in the coming days.

Along with pushing back the deadline, fees, interest and penalties for filing later than April 15th will be waived. This is significant, particularly for those who may not be prepared to pay their taxes in April. It could save some individuals hundreds, if not thousands, of dollars.

Pushing back the tax deadline is not necessarily a new thing. It has been done in the past for those living in areas hit hard by natural disasters. This is the first time this change will affect the entire nation, though. Connecticut residents who have tax concerns that they need addressed can help themselves by using this extra time to their advantage. Legal counsel can answer any tax questions one might have and can help one work with the Internal Revenue Service to resolve any tax issues that arise quickly.