Usually, the deadline for taxes in the United States is April 15. However, due to the Coronavirus outbreak across the nation, Treasury Secretary Steve Mnuchin announced a 90-day extension. This decision came after health officials from the CDC recommended that people stay inside and non-essential businesses began to close due to the spread of the virus. It is important to know that this extension comes with no penalties and is interest-free. This can provide Americans with a sense of relief during these trying times.
While the extension is available to all people, Treasury Secretary Mnuchin emphasized that those can get their taxes filed before April 15 should still continue to do so. The deferment covers all taxpayers who owe $1 million or less as well as corporations that owe up to $10 million. Speaking on the deferment, Mnuchin stated, “We encourage those Americans who can file their taxes to continue to file their taxes on April 15, because for many Americans, you will get tax refunds.”
If you are looking to file your taxes or have had trouble doing so and may be in financial jeopardy, do not hesitate to reach out to our skilled bankruptcy firm. We are experienced in assisting many individuals through difficult times and are ready to do the same for you. Although the new Coronavirus and the way it is impacting the nation can be daunting, we are here to help you with your financial needs.
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Sometimes, divorce, family, estate, and bankruptcy matters are difficult to navigate. Fortunately, they do not have to be with the assistance of a compassionate, knowledgeable attorney who is willing to guide you every step of the way. If you need a seasoned firm to help you with any divorce, family or estate-related matter, please do not hesitate to contact Collis & Griffor today to schedule a consultation.