Friday, March 27, 2020

Extended Deadlines to file your 2019 Tax Returns

IRS Extends Due Date for Filing Federal Tax Returns and Tax Payments until 7/15, 2020
As a result of the Coronavirus emergency, the IRS is extending the due date for filing of Federal income tax returns and Federal income tax payments to July 15, 2020. This extension is automatic and available to all taxpayers in the US.  Any interest, penalty, or addition to tax for failure to file or to pay tax will not accrue until July 16, 2020, as a result of this extension.
Federal Income Tax Returns
The extension is automatic. You do not need to file Form 4868 or call the IRS to receive the extension. If you need more time to file beyond the July 15 deadline, you can request an extension by filing the appropriate form. This filing extension, however, does not apply to the filing of any other Federal information return due on or before April 15, 2020.
Federal Income Tax Payments
The deadline for making Federal income tax payments is also extended to July 15, 2020. The extension applies to the payment of Federal income taxes for the 2019 tax year and also estimated income tax payments for the 2020 tax year that are due otherwise on April 15, 2020. 
Filed Early If You Have Refund 
Despite the extension, the IRS is encouraging people who are expecting a refund to file their tax returns early as a way to help stimulate the economy. 
As the coronavirus situation continues to evolve, your health and safety remains our top priority. We would like to remind you that if you are looking for a tax professional to file your tax return, then look no further.  We are here to help.  You can do everything at the comfort of your home without going outside.  You can email us or call with questions.  You can also send us all your tax documents thru email with password protection.  We will have your tax return filed and get the refund for you within a few days.
Meanwhile, take care and stay safe.


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