US and State Taxes Due Wednesday July 15 2020

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Money Courtesy of WordPress Pexels

The Internal Revenue Service Federal Tax Filing and Payment Deadline has been extended to July 15 2020 due to the CoronaVirus (COVID-19) Pandemic.

The Treasury Department and Internal Revenue Service announced on March 21 2020 that the federal income tax filing due date is automatically extended from April 15 2020 to July 15 2020.

This extension would also extend to your California State Tax Filing.

IRS Tax Day July 15 2020 Highlights

Income Tax Filing deferred to July 15 2020
Taxpayers do not need to file any additional forms or call the IRS to qualify for this automatic federal tax filing.

Income Tax Payments deferred to July 15 2020
Without penalties and interest, regardless of the amount owed.
This 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.

Taxpayers do not need to file any additional forms or call the IRS to qualify for this automatic federal tax payment relief.

Tax Filing Extension Past July 15 2020
Taxpayers do not need to file any additional forms or call the IRS to qualify for this automatic federal tax filing and payment relief.
Individual taxpayers who need additional time to file beyond the July 15 2020deadline, can request a filing extension by filing Form 4868 through their tax professional, tax software or using the Free File link on IRS.gov.
Businesses who need additional time must file Form 7004.

Taxpayers Who Expect A Refund Should File ASAP
Most tax refunds are still being issued within 21 days.

Direct Deposit Is Quickest Way To Get Refunds

IRS Commissioner Chuck Rettig reminds everyone that, “Filing electronically with direct deposit is the quickest way to get refunds.”

California Tax Filings Extended to July 15 2020 Highlights

FTB is postponing until July 15 the filing and payment deadlines for all individuals and business entities for:

2019 tax returns
2019 tax return payments
2020 1st and 2nd quarter estimate payments
2020 LLC taxes and fees
2020 Non-wage withholding payments

Additional Resources

California Tax Extension to July 15 2020

U.S. Tax Day Now July 15 2020 Press Release

IRS CoronaVirus Page

U.S. Department of Treasury

IRS Filing Facts

The IRS accepts paper and electronic tax returns.

The IRS strongly encourages people to file their tax returns electronically for faster refunds.

The IRS also reminds taxpayers that they should keep copies of their prior-year tax returns for at least three years.

Choosing e-file and direct deposit for refunds remains the fastest and safest way to file an accurate income tax return and receive a refund.

IRS.GOV offers Taxpayers with help filing and preparing their return.
Taxpayers can find answers to their tax questions and resolve tax issues online.

The IRS also reminds taxpayers that a trusted tax professional can provide helpful information and advice.

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