Further to our previous update on the extension of the April 15, 2020 Federal income tax payment deadline to July 15, 2020, today the Secretary of the Treasury announced that the April 15, 2020 deadline for Federal income tax return filings for taxpayers and businesses would also be extended until July 15, 2020 without incurring any interest or penalties. At this time, no formal guidance has been released, and so the exact details of this extension are not yet available.

While this announcement only applies to federal tax filing requirements, states and local governments have also begun to adopt extensions for their state and local filing deadlines, and many more likely will in the days to follow.