April 15th Filing Extension Brings Economic Relief for COVID-19

COVID-19 has seemingly upended the entire world. Almost overnight, it has dramatically changed how we work, how our kids learn, how we shop for everyday items and groceries, how we interact with others, and how we live life as usual.  

Unprecedented measures are being taken to ensure that U.S. citizens can maintain and manage their health, as well as survive financially. As of Tuesday, we saw a never-before-enacted extension of the April 15th tax-payment deadline for millions of individuals. As of Friday, March 20th, the U.S. has extended the tax filing deadline to July 15th.

To read more about the extension period from the WSJ, click here. Here are some of the key pieces of the measure that you need to know.


The tax deadline extension will help stall the economic impacts of COVID-19. 

This measure has the power to soften or stall the potential impact on the markets until our economy returns to pre-COVID-19 normal. “All taxpayers and businesses will have this additional time to file and make payments without interest or penalties,” said Steven Mnuchin said Friday. The IRS will also be following up with a detailed notice, and when that is released, we will share that information with you.

More economic relief in response to COVID-19 could be on the horizon. 

On Tuesday, serious talks of possible emergency funding began, with bipartisan support. A possible $850 billion economic stimulus package is on the table that would provide critical and immediate cash payments to Americans to help meet financial obligations or boost the economy.  

We want to reassure you that we’re here for you to answer your questions and ease your financial fears and concerns. During this unsettling and challenging time in our world, we hope you find comfort in knowing that your money will continue to be cared for as if nothing out of the ordinary were happening. In the meantime, everyone on our team is available to discuss any topics or questions you have on your mind. 

To learn more about the financial extent and impact of COVID-19 or for questions about the income tax deadline extension, please reach out to our team anytime. Please email us or call either our Pittsburgh office at 412-781-7100 or our team in Greensburg at 724-836-7001.

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