Tax Filing Deadline Moved To July 15th

Tax Filing Deadline Moved To July 15th

Tax Filing Deadline Moved To July 15th

The Income-Tax Department is "proactively pursuing" with the government extension of the statutory March 31 deadline to complete important tax-related works due to the COVID-19 outbreak, an all-India body of IRS officers said on Monday. The deferment applies to all taxpayers, including individuals, trusts and estates, corporations and other non-corporate tax filers, as well as those who pay self-employment tax. It was enacted in 1988.

Many states are extending their filing deadlines to match the new deadline for filing federal returns. If so, is it best to file sooner than later?

You don't have to submit a special form to file by the new extended date.

What would you say is the best way to file taxes right now given messages of social distancing from one another?

The state filing extension is automatic for eligible taxes and no extension request is necessary. This will direct you to a site that allows you to upload your documents, in an encrypted format, instead of sending them through cyberspace email.

DeKalb County has first coronavirus case; State total rises to 449
Three cases were identified in Andover Township, Byram Township, Frankford Township, Hopatcong Borough and Town of Newton. According to the site, women account for just under 63% of confirmed COVID-19 cases, while men are just over 37% of them.

As relates to interest and penalties - the period beginning on April 15, 2020 and ending on July 15, 2020 will be disregarded in the calculation of any interest, penalty or addition to tax for failure to file the federal income tax returns or to pay the federal income taxes postponed by the Notice.

If you file your tax return or request an extension of time to file by April 15, 2020, you will automatically avoid interest and penalties on the taxes paid by July 15. Please note that if you owe income taxes, you have to pay by July 15, regardless.

The IRS offered additional guidelines on March 24, including guidance on whether taxpayers need to be ill to qualify.

This relief is available exclusively with respect to federal income tax payments (including payments of tax on self-employment income) and Federal income tax returns due on April 15, 2020 in respect of a taxpayer's 2019 taxable year and Federal estimated income tax payments (including payments of tax on self-employment income) due on April 15, 2020 for the taxpayer's 2020 taxable year. Businesses who need additional time must file Form 7004.

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