In reaction to the ongoing pandemic, Congress is continuing to pass legislation with the anticipation of rebounding our struggling economy. Late last week, Phase 3 of this effort was passed by Congress and signed by President Trump.

The 2019 income tax filing and payment deadlines for all taxpayers who file and pay their Illinois income taxes on April 15, 2020 are automatically extended until July 15, 2020.

As the coronavirus event has moved rapidly, markets keep reacting sharply, and people are learning to be adaptable, our elected officials are trying to blunt some of the extreme reactions with the Families First Coronavirus Response Act (H.R. 6201).

On Friday, March 20, Steve Mnuchin, Secretary of the Treasury, released a statement that the federal tax filing deadline has moved in response to the ongoing coronavirus (COVID-19) pandemic. The new deadline of July 15, 2020 corresponds with the tax payment deadline previously rescheduled earlier in the week.

This afternoon, the IRS issued formal guidance on tax payment relief. Read our blog to find out what Notice 2020-17 establishes.

There has been much speculation surrounding the impact of the Coronavirus (COVID-19) pandemic on the U.S. tax filing deadline. At a Tuesday White House briefing, Treasury Secretary Steven Mnuchin announced new relief measures that are effective immediately.