02 Jul Taxpayers should file by July 15 tax deadline!
The Department of the Treasury and IRS announced that the tax filing and payment deadline of July 15 will not be extended again. Individual taxpayers unable to meet the July 15 due date can request an automatic extension of time to file until October 15. Due to COVID-19, the original filing deadline and tax payment due date for 2019 was postponed from April 15 to July 15.
To extend, you must file Form 4868 by July 15 to obtain the extension to Oct. 15. The extension provides additional time to file your return, but its not an extension to pay any taxes due.
If you owe taxes after filing an extension, you may want to pay what you can by July 15 to avoid penalties and interest. For those impacted by COVID-19, the IRS has several options available to help. To avoid interest and penalties, the IRS has a variety of payment options available for the remaining balance.
Automatic Extension of Time to File
Taxpayers who need more time to prepare and file their federal tax return can apply for an extension of time to file until October 15. To get an extension, taxpayers must estimate their tax liability on the extension form and pay any amount due.
Individual taxpayers have several easy ways to file Form 4868, Application for Automatic Extension of Time to File U.S. Individual Income Tax Return. Also, check state filing and payment deadlines, which may differ from the federal July 15 deadline. A list of state tax division websites is available through the Federation of Tax Administrators.
If you cannot pay in full, contact us to help you set up the following payment options:
- Online payment agreement
- Installment Agreement
- Temporary Delay of Collections
- Offer in Compromise
Don’t delay, July 15th is around the corner!