Tax filing deadline extended

The federal and Wisconsin income tax payment and return due dates, have been automatically extended to July 15, with concerns over the impacts of COVID-19. Wisconsin law will automatically extend time, and waive interest and penalties for taxpayers, because of a presidentially declared disaster.

This means the following:

• Tax filers do not have to file any extension forms to be eligible for this new due date.

• There is no limit on the amount of payment to be postponed and there are no income exclusions.

• This applies to individuals, trusts, estates, partnerships, associations, companies or corporations.

• This relief is solely for income tax payments, estimated income tax payments and returns due April 15.

• There will be no interest or penalty for the period of April 15 to July 15.

• Interest, penalties and underpayment interest for failure to make quarterly estimated tax payments, with respect to such postponed federal income tax filings and payments, will begin to accrue July 16.

“This is a time of great uncertainty for everyone,” said said Department of Revenue secretary Peter Barca. “People are concerned and worried, and one thing they should not have to worry about right now, is an April 15 tax deadline.”

Barca says roughly half of all taxpayers in Wisconsin, have already filed their tax returns and most have received refunds, on average over $700.

“We are still processing returns, and issuing refunds and other credits that Wisconsinites rely on,” said Barca, “such as the Homestead Credit and Earned Income Tax Credit.”