"This recent development of extending the federal tax filing deadline from April 15th to July 15th is an important breakthrough in assisting the accounting community and all American taxpayers, on the whole," he said. "While the earlier 90-day extension of the tax payment date was a step in the right direction, this move will certainly help to put people, who are already feeling stressed from COVID-19, more at ease. Now, the next step is to make sure that the states and localities follow suit."

The IRS released its official notice on the topic over the weekend. It said that taxpayers do not need to file any additional forms or call the IRS to qualify for this automatic federal tax filing and payment relief. Individual taxpayers who need additional time to file beyond the July 15 deadline, can request a filing extension by filing Form 4868 through their tax professional, tax software or using the Free File link on IRS.gov. Businesses who need additional time must file Form 7004. However, IRS Commissioner Chuck Rettig still urged people to file as soon as they can. 

"Even with the filing deadline extended, we urge taxpayers who are owed refunds to file as soon as possible and file electronically," said IRS Commissioner Chuck Rettig. "Filing electronically with direct deposit is the quickest way to get refunds. Although we are curtailing some operations during this period, the IRS is continuing with mission-critical operations to support the nation, and that includes accepting tax returns and sending refunds. As a federal agency vital to the overall operations of our country, we ask for your personal support, your understanding – and your patience. I'm incredibly proud of our employees as we navigate through numerous different challenges in this very rapidly changing environment."

The IRS has since released a Q&A on some of the more common questions it has received since making the announcement as well.