Per IRS Notice IR-2020-58, the IRS has extended the FILING deadline.
Tax Day is now July 15:
The tax balance due payment date has also been replaced with July 15th regardless of the amount you owe. You also have until July 15th to pay your tax bill without interest or penalty. No additional forms or extension requests are needed.
The revised due date applies to:
This is what your 2020 estimate schedule could look like:
Qtr 1 due 7/15/2020 due 7/15/2020
Qtr 2 due 6/15/2020 due 7/15/2020
Qtr 3 due 9/15/2020 no 3rd quarter due
Qtr 4 due 1/15/2021 due 1/15/2020
Just like the old days, you or your CPA will need to request an additional extension. If you can’t pay by July 15th, you should consider a payment plan. Keep in mind that interest and penalties will start accruing on outstanding balances starting July 16, 2020.
Yes, the IRS confirmed that July 15, 2020 will also be the deadline to make 2019 contributions to IRAs and health savings accounts (H.S.As). Deadlines associated with contributions to workplace savings plans are not affected.
No, if you can file your return, there is no reason to wait for the deadline. In fact, if you are expecting a refund, you should file as early as possible. The sooner your return is accepted, the sooner you will receive your money.
So far, refunds are still being processed normally. If you are expecting a refund, you should file your 2019 return as soon as possible. There is no reason to wait. Filing now will help ensure that you see your funds without any kind of delay. The IRS website boasts that most refunds are issued within 21 days.
If you need to trace your refund, please use the IRS website “Where’s My Refund?” .
Everything for California has now been postponed until July 15, 2020. This includes:
The California State Controller has stated taxpayers will continue to get their refunds timely.
Talk to your local bank and credit card company. Some are allowing for auto loan deferments, credit card deferred payments, refund of overdraft charges and hardship programs for mortgage customers.