Treasury Secretary Announces Tax Return Deadline Extension; Expected to Extend Contribution Deadlines

Treasury Secretary Steven Mnuchin has announced in a Twitter message this morning that the April 15, 2020, tax return filing deadline will be extended 90 days, to July 15, 2020. Formal guidance confirming this is expected. It is further expected that the deadline to make certain contributions to tax-advantaged savings arrangements—such as IRAs—will be similarly extended. This has been the case with certain previous federally-declared natural disasters. More information, including confirmation in formally-issued guidance, will be provided in a future communication.