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Good News For Crypto Traders in the U.S. as IRS Extends Tax Deadline

Source: Adobe/MasterSergeant
The tax deadline in the USA has been extended due to the Covid-19 outbreak, and this concerns crypto as well.

The U.S. Treasury Department and Internal Revenue Service (IRS) have issued guidance extending the tax deadline 2020 for all individual and other non-corporate tax filers with up to USD 1 million in owed federal income tax (self-employment tax included), from April 15 to July 15, without penalties or interest, says the press release. Corporate taxpayers get a similar deferment of up to USD 10 million of tax payments. However, “Americans should file their tax returns by April 15,” said Treasury Secretary Steven T. Mnuchin, as people will be able to get their refunds sooner.