Tax Pros Worry Lack of Filing Extension Will Confuse Taxpayers

Tax preparers who hoped upcoming tax filing deadlines for individuals and businesses would be delayed due to the new coronavirus were left disappointed by the IRS.

The IRS in a notice released Wednesday elaborated on earlier comments from Treasury Secretary Steven Mnuchin that individuals and businesses would be allowed to defer tax payments due April 15 until July 15 without interest and penalties. The tax relief is meant to soften the blow of the Covid-19 pandemic.

The guidance contained some new information, including that the tax relief would apply to estimated income tax payments owed by certain ...