During a news conference last week President Trump stated something to the effect that he was ordering Secretary of the Treasury Mnuchin to extend tax filing deadlines. That has not happened as of the moment I’m writing this.
Today is the deadline for filing S-Corporation and partnership returns (including LLCs that file as partnerships). If you have not filed your return you must file an extension today. Your tax professional can do this electronically. If you need to do it, download IRS Form 7004 (you can find the instructions here), complete it, and mail it using certified mail to the IRS. You now have a valid extension.
While the tax professional community expects the personal deadline to be extended, that has not happened yet. That means that personal returns are due on April 15th. It’s possible–indeed, highly probable–that deadline will be extended. But we all have to wait and see as to if or when that will occur.
Tags: 2020.Tax.Season