The Tax Deadline Will Remain July 15 Unless You Apply For An Extension
On June 29, 2020 the IRS and the Department of Treasury announced, “the tax filing and payment deadline of July 15 will not be postponed.”
As usual, the original tax filing and payment deadline was April 15, 2020. However, as a result of the COVID-19 pandemic, the deadline was extended until July 15, 2020. Recently, there has been speculation that the IRS would again extend the deadline even further, but that is not true. The IRS has confirmed that July 15 is the tax deadline.
Although July 15 is the deadline, taxpayers can apply for an extension. The extension gives taxpayers an additional 3 months to file and pay taxes. The extension deadline is October 15, 2020.
To apply for an extension, taxpayers must file Form 4868 by July 15. You can find more information about Form 4868 here or you can electronically file the form using the IRS Free File tool here.
If you owe taxes, the IRS offers several payment options including paying directly from your checking or savings account, debit or credit card, check or money order, and paying by phone or online.
The IRS also understands that many taxpayers cannot afford to pay their taxes right now. IRS Commissioner Chuck Rettig stated,” The IRS understands that those affected by the coronavirus may not be able to pay their balances in full by July 15, but we have many payment options to help taxpayers.”
Whether you can or cannot pay your taxes, learn about your payment options here.
The IRS also reminds taxpayers that July 15 is the federal tax deadline. State tax deadlines may differ and you can find more information about your state’s deadlines here.
Share This Article
What's Trending?
Trending topics & tools for the CPA community
Pay no licensing fee for 12 months!
As the year comes to a close, it's time to evaluate your goals for next year. Set your firm up for its most profitable yet with CPACharge in your corner. Plus, sign up by December 29th and pay no licensing fee for 12 months!
The Future of Senior Health, Wealth & AgeTech
Medicarians is the home of the product creators, distributors, provider networks, plan administrators, venture investors, and innovators helping the people live longer, better lives physically, financially, and mentally. Join us April 8 - 10, 2024, at Fontainebleau, Las Vegas.
Major Security Concerns of Accounting Firms In 2024
I. IntroductionA. Exploring the Present Scenario of Cybersecurity Threat in Accounting In the accounting industry, where professionals have to deal with loads of confidential data......
Resources
Valuable information provided by our sponsors.
The Guide to Updates for Tax Season 2024
With the new 2024 tax season right around the corner, are you confident that you...
Unlock Client-Centric Success: Register Today
We are excited to invite you to our upcoming webcast, "The Future of Tax Automation:...
Free 1 CPE: How to Grow Your Practice Through Business Advisory Services!
Free CPE Webinar for Accountants, CPAs, and Bookkeepers. How to Start a CFO Service. Grow your practice...
Help clients save for retirement in 2024 and beyond
With Guideline Pro, you get tools and expertise to help guide clients to a secure...
Retire Your Way: The Solo 401 Strategy for Entrepreneurs
Join Quest President Nathan Long as he shares what makes the Solo 401k so desirable,...
CPAdirectory members have access to discounted auto and home insurance
At CPAdirectory, we think it's a good thing to provide our members with access to...
Comments (0)