In response to coronavirus, federal government and most, if not all, state governments have extended their respective tax filig due dates
The federal tax filing deadline has been extended to July 15, 2020. Taxpayers getting a refund are encouraged to file their taxes now to get their money.
The IRS expects to continue to process refunds as normal. The IRS typically issues refunds within 21 days from acceptance with e-file. Direct deposit is the fastest
way to get your refund.
- Do I need to file an extension to file past April 15? No, you do not need to take any action. The July 15 extension applies to all taxpayers
automatically.
- Will the extension of the tax deadline delay my tax refund? No, the IRS expects to continue to process refunds as normal but encourages all taxpayers to file
now.
- Does this extension apply to 2020 quarterly estimated tax payments? First quarter 2020 estimated income tax payments are postponed from April 15 to July 15,
2020. However, second quarter 2020 estimated income tax payments are still due on June 15, 2020.
- Do I have more time to contribute to my IRA? Yes, you now have until July 15, to make a 2019 contribution to your IRA. SEP IRA's continue to enjoy an October
15, 2020 deadline.
A majority of states are conforming to the new July 15 tax deadline. However, some states have different deadlines and guidance.