New Jersey has extended the State income tax filing deadline and the corporate business tax filing deadline from April 15 to July 15, due to the COVID-19 pandemic. The extension is automatic. You do not need to file for an extension.
Taxpayers can also defer federal income payments due on April 15 to July 15, without penalties and interest, regardless of the amount owed.
The deferments apply to all taxpayers, including individuals, trusts and estates, corporations and other non-corporate tax filers, as well as those who pay self-employment tax.
To recap, the U.S. Treasury Department and Internal Revenue Service previously announced that the federal income tax filing due date was extended from April 15 to July 15. New York State followed suit this week, as well. The tax deadline has now been extended for all 50 states.
As always, we still recommend you speak with your accounting professional to ensure you have no other obligations.
