If you file for an extension in 2020, your taxes will be due by October 15, 2020. Usually, the extension provides an additional six months to submit your tax return. If you need more time to file your taxes, you can file for an extension. If you are unsure, check your state tax agency. Make sure you know when your state taxes are due, so you don’t incur penalties. The American Institute of Certified Public Accountants is tracking state tax deadlines that are changing due to COVID-19 relief measures.Įven though the federal deadline is now July 15, you may still have an April 15 filing deadline for your state taxes. Some states have started to extend the tax deadlines due to Coronavirus concerns. Some states are extending their tax deadlines It is important to note that states have different rules. If you need to file an amended return or claim for a refund to be filed for Tax Year 2016, the regular deadline of Apapplies. This extension only applies for Tax Year 2019. If you think you will receive a refund this tax season, especially if you qualify for valuable tax credits, you may want to prioritize filing soon to get that boost from a tax refund. If you haven’t filed, you now have a 90-day extension to do so.įor many, COVID-19 is already affecting livelihoods and finances. If you already filed this season-great! Your taxes will be processed normally and anything you owe will be due by July 15 th without interest or penalties. Must-read: What to know about the Economic Impact Payments (Stimulus Checks) 2. The payments are an advance of a temporary credit for 2020 (which you file taxes for in 2021). Many Americans qualify for an Economic Impact Payment (Stimulus Check)Įconomic Impact Payments –commonly referred to as “stimulus checks” or “recovery rebates”– are a key provision of the Coronavirus Aid Relief, and Economic Security (CARES) Act legislation that Congress passed to help reduce the financial burden of Covid-19 on individuals and their families.
Here’s what you need to know to file your taxes in 2020. Even if they are, you may not want to travel outside your house for tax preparation help. With the ongoing COVID-19 outbreak, taxes may not be at the top of your mind.