It is comforting to know that Intuit is in "close communication" with IRS. I hope it's not too close. Since every fifth question on these message boards involves the latest developments on when taxes must be filed and paid, it is unfortunate that Intuit cannot afford a message board that allows answers to be "pinned" to the top so that they don't fall to page 3 or 4 after a few hours. If they don't receive a bailout from the federal government, maybe we users can start a GoFundMe page to upgrade the system.
I received an email from IRS today saying that the 4/15/2020 deadline for filing is still effective. If you owe, the deadline to pay is extended to 7/15/2020, with no penalties or interest, as long as you file on time. here is the official link:
Did they happen to say if this is like those credit card deals, where if you pay within 90 days there is no interest, but if you pay on Day 91 the interest is charged from April1 15?
No? OK, I wouldn't expect them to answer that.
Our leaders in Washington are fighting the last war. I can remember two "rebate" check programs, both of which were based in part on having filed a tax return. That's why they still want people to file by April 15. Rebates helped to stimulate the economy. People went out and spent the money. Today, even healthy people with steady incomes don't have many places to spend. We need to take care of the sick and unemployed.
In regards to when the interest kicks in:
As a result of the postponement of the due date for making Federal income tax payments up to the Applicable Postponed Payment Amount from April 15, 2020, to July 15, 2020, the period beginning on April 15, 2020, and ending on July 15, 2020, will be disregarded in the calculation of any interest, penalty, or addition to tax for failure to pay the Federal income taxes postponed by this notice. Interest, penalties, and additions to tax with respect to such postponed Federal income tax payments will begin to accrue on July 16, 2020.