Mnuchin annouces tax deadline extension

Update March 21, 2020:
The IRS released Notice 2020-18 on the evening of March 20, 2020 and I have a new post about that notice. It is the IRS’s interpretation and formal guidance on the Twitter tweet from Secretary Mnuchin.

There isn’t a formal announcement yet, but Treasury Secretary Mnuchin announced via Twitter this morning (3/20/2020) that the US federal tax deadline of April 15, 2020 will be postponed until July 15, 2020. This means the filing deadline will be the same as the payment deadline.

The IRS followed up a few minutes later with a post of their own announcing Mnuchin move. I am guessing this came as surprise to them, too, and they didn’t have any social media campaign ready to roll out at the time of the announcement.

If you’ve been following along this week, the Treasury originally announced a postponement of the payment deadline. This was moved from April 15, 2020 until July 15, 2020 and announced on March 17, 2020 in the IRS Notice 2020-17.

Just remember there has to be an official announcement and Twitter doesn’t constitute a formal announcement. Keep your eyes open for another IRS notice regarding this. Hopefully it will come soon!

I’ll post more as soon as we get more information but this is really good news for the American taxpayers and tax professionals.

Here was an initial reaction from #TaxTwitter