You can blame another delay on COVID-19. But this one , you’ll actually be excited about. The Department of Revenue for the State of Wisconsin announced it would movee its income tax payment and return date, back 3 months.
You now will have until July 15, 2020 to get the returns in. That announcement comes on the heels of the move made by the IRS on Friday, when the IRS made the move to push back its filing day. Wisconsin law allows the extension, along with waiving interest and penalties, because President Trump declared the pandemic a National Emergency.
Governor Tony Evers issued a statement, regarding the move, and said “This is just one more thing we can do for Wisconsinites during this challenging time.” The latest numbers show that half of all taxpayers in Wisconsin had already filed returns, with many already receiving refunds.
The details of the changes include:
- * 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.
- * Applies to individuals, trusts, estates, partnerships, associations, companies or corporations.
- * Relief is solely for income tax payments, estimated income tax payments and returns due April 15, 2020.There will be no interest or penalty for the period of April 15, 2020 to July 15, 2020.
- * 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 on July 16, 2020.