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For my clients and others that owe additional federal tax on their 2019 personal tax return, relief has been granted by the Internal Revenue Service. Federal tax owed on your 2019 return, which would normally be due on April 15, will now be due on July 15, for up to $1 million of tax due. You can delay or stretch out payments on additional tax owed for 2019 and not face any late payment penalties or interest, provided the total amount owed is paid in full by July 15.

While the filing deadline is still April 15, extensions can be electronically filed for everyone who has not filed by then, and late filing penalties may be avoided as well. The filing deadline may also be extended but the Internal Revenue Service has not announced anything official on this.

Please note that this applies only to federal taxes owed and not state taxes; however, most states are expected to follow suit and change the deadline as well.

If you expect to receive a refund on your federal return, this change does not affect you.