Will COVID-19 Affect The April 15th Tax Deadline? - Form 1099 online

Thursday 23 April 2020

Will COVID-19 Affect The April 15th Tax Deadline?

Will COVID-19 Affect The April 15th Tax Deadline? The Treasury Department and the IRS have extended the federal income tax filing date from April 15, 2020, to July 15, 2020. The extended filing date gives tax relief to so many Americans.

Has The 2020 Tax Filing Deadline Been Postponed?

Yes. The Internal Revenue Service has extended the federal tax filing deadline for 2020. For tax year 2019, Individual federal income tax returns are due on or before July 15, 2020. Taxpayers and businesses also have an extra 90 days to pay their federal tax bill without interest and penalty. This tax-filing extension is automatic and applies to all taxpayers. You do not require to file any further forms or request the extension from the Internal Revenue Service. Now, tax Day is July 15, 2020. You will require to file your federal tax return and pay any taxes you owe before this date. Filing federal taxes before this extension date due to avoid penalties and interests.

Should I Wait To File My Federal Taxes In 2020?

No. If you can file your federal return, there is no cause to wait for the deadline. If you are expecting a repayment, then you should file as early as possible. The sooner your federal tax return is accepted, the sooner you will receive your payment.

Tax Refunds Delayed Because Of Coronavirus

Generally, Refunds are still being processed. If you are expecting a repayment, then you should file your 2019 return as early as possible. There is no cause to delay the tax deadline. Filing now will help ensure that you see your tax refunds without any sort of delay.

If you use electronic filing, then you can most likely expect to see your federal tax refund within 21 days. If you use paper filing, the process is slow. You can get your refunds slowly compare to electronic filing.

Can I Get Additional Time To Pay My Federal Taxes In 2020?

The Internal Revenue Service has extended the payment deadline by 90 days for all taxpayers. This means you have time up to July 15, 2020, to pay your tax bill for the 2019 tax year. But if you are still not able to pay your federal tax bill in full by the time it is due, then the IRS can assist you with a payment plan.

Did My State Postpone Their Filing Deadline?

Each state determines if they are going to extend their particular filing deadline. Most states follow the federal decision and extend tax day until July 15th. Although, there are a few states that are extending the filing deadline to a different date. For instance, Hawaii extends the filing date by July 20th.

What Is The Quickest Method To Get My Refund?

Will COVID-19 Affect The April 15th Tax Deadline? The quickest method to get your refund is still by filing electronically and selecting direct deposit according to the Internal Revenue Service. IRS Commissioner Chuck Rettig said we need taxpayers who owed refunds to file as early as possible and file electronically. The Internal Revenue Service is continuing with mission-critical functions to help the nation, and that includes receiving tax returns and sending refunds.

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