By Paige Justus
In response to the COVID-19 pandemic, Treasury Secretary Steven Mnuchin announced that taxpayers now have a 90-day extension on filing their federal tax returns and making related payments. This is a change from Mnuchin’s first announcement which only offered an extension on payments. All taxpayers and businesses now have until July 15th, 2020 to file their 2019 return and make payments on taxes owed without interest or penalties. As of the time of this writing, the IRS has not released a notice outlining any deferral limits or providing clarification on due dates for estimated payments.
Governor Polis announced a 90-day extension on Colorado filing and payment deadlines giving Colorado taxpayers until July 15th, 2020 to file their 2019 return and make payments on taxes owed without interest or penalties.
Despite the filing extension, taxpayers who may have tax refunds are encouraged to file now so that you can receive your refund. The IRS and the Colorado Department of Revenue will continue to process returns as they are filed and issue refunds accordingly.