New York Gov. Andrew Cuomo extended the tax filing deadline to July 15. The Louisiana Department of Revenue says the individual income tax deadline is now July 15. “This also gives the IRS time to issue needed guidance on unemployment compensation, as millions of returns already filed likely do not account for this change.” The American Rescue Plan excludes the first $10,200 of unemployment benefits from federal taxes for those making less than $150,000. As part of the American Rescue Plan, many taxpayers wouldn’t be required to pay taxes on up to $10,200 in unemployment benefits received last year. Democrats on the House Ways and Means Committee previously requested that Rettig extend the tax return filing season beyond April 15.
Plus, while most states adjusted their filing deadlines to May 17 or later, not all states did.The fastest way to file your tax return is to file electronically. The federal tax collector said Monday that roughly 940,000 people in the U.S. have until May 17 to submit tax returns for unclaimed refunds for tax year 2020, which total more than $1 billion nationwide. To speed-up tax return processing and refund issuance during the pandemic, we urge taxpayers to file electronically and choose direct deposit. If you haven’t filed your federal income tax return for this year or for prior years, you should file your return as soon as possible. As a result, the extensions generally now apply to all taxpayers that have a filing or payment deadline falling on or after April 1, 2020, and before July 15, 2020. On March 17, the Treasury Department and Internal Revenue Service announced that the due date for individuals filing federal income taxes for the 2020 tax year has been extended to May 17.
Werfel said “some people may not realize they may be owed a refund. We encourage people to review their files and start gathering records now, so they don’t run the risk of missing the May deadline.” The IRS is warning taxpayers that they may be leaving more than $1 billion on the table. This move will provide some relief for those higher paid tax filers, but Gleckman warns that most higher income individuals have extra cash, and they tend to save it not spend it. Those who file early tend to be low- and middle-income individuals who are getting a refund. Treasury Secretary Steven Mnuchin estimates taxpayers will be able to keep $300 billion rotating through the economy for now.
Haven’t filed your tax return lately?
- The State of Michigan finally declared that the new tax deadline for individual income tax returns this year is July 15.
- Higher-income individuals, or those with complex taxes who owe money to the government, tend to file later, Gleckman said.
- Check all the supporting documents you need to claim tax benefits.
- Idaho Gov. Brad Little extended the deadline to file state income tax returns and to apply for property-tax relief to June 15.
- All income tax returns that were required to be filed by April 15, 2020 are granted an automatic six-month extension, and are due on or before October 15, 2020.
Since the official tax deadline is tomorrow, it’s important to note the major deadlines for filing and paying your taxes — and if you have more time to file. The Vermont Department of Taxes extended the deadline for filing of personal income taxes to July 15. Ohio Tax Commissioner Jeff McClain extended the deadline to file and pay the state income tax to July 15.
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The majority of states also extended their tax deadlines to May 17, in accordance with the updated IRS federal tax deadline. To speed up refunds during the pandemic, the IRS is asking taxpayers to file electronically with direct deposit as soon as possible, so the IRS can deposit your refund right into your bank account. Therefore, an extension affords people a little extra time to get their taxes and financial affairs in order. During this unprecedented delay, taxpayers will not be subject to interest or penalty payments, regardless of how much they owe, the IRS says. The Treasury later announced that it would also grant a 90-day extension for filing federal taxes as well. The law requires taxpayers to properly address, mail and ensure the tax return is postmarked by the July 15, 2020, date.
More In File
Taxpayers who didn’t receive the first or second stimulus payments may be eligible to claim the Recovery Rebate Credit. State deadlines can vary and are not always the same as the federal filing deadline. And if you are not filing returns because you don’t know how, then read this short guide on tax filing. Accounting software can massively help to make your life easier when it comes to filing your tax return. If you’ve earned any income outside of PAYE tax this means you’ll need to submit at tax return.
IRS Extends Tax Payment and Filing Deadline Due to COVID-19
- For more tax tips, see how much income brackets and the standard deduction are changing in 2025.
- And any way you file, you’ll always get your max refund.
- For 2020, the CRA won’t adjust these benefits with your outstanding tax bill.
- The IRS has also been a key player in doling out government relief payments, and is helping to send out the third round of payments in the middle of the current tax filing season.
You can use the HMRC online portal to register and file Self Assessment tax returns online. The deadline for quarterly estimated tax payments, however, remains April 15, so freelancers should have already filed. State filing and payment deadlines vary this is the new tax filing deadline for 2020 returns and are not always the same as the federal filing deadline. Free In-person Audit Support is available only for clients who purchase and use H&R Block desktop software solutions to prepare and successfully file their 2019 individual income tax return . Preparing your Form 1040 early will give you time to arrange your payment.Keep in mind, however, that an extension to file doesn’t extend the time to pay your tax.
Refunds
The IRS previously extended the deadline to June 15 for Texas, Oklahoma and Louisiana because of the winter storm. The delay comes as the IRS is dealing with a massive backlog that has left it unable to fully process roughly 24 million tax filings from individuals and businesses since the 2019 tax year. The news was first reported by Bloomberg who said the deadline was expected to be in mid-May. These monthly income stocks have stable cash flows, solid balance sheets, and resilient payouts.
“This filing season has been particularly challenging for low-income taxpayers and small tax preparers as they navigate the pandemic, and I support extending the filing deadline for individuals to May 17,” Wyden said in a statement. This is the filing deadline for Self Assessment tax returns. If you file a Self Assessment tax return, you’ll also be required to make 2 payments to HMRC in January and July. With so much going on due to Covid-19, its easy to forget tax deadlines for filing and tax payments.
State tax deadlines 2025
For 2016 tax returns, the normal April 15 deadline to claim a refund has also been extended to July 15, 2020. This means that anyone, including Americans who live and work abroad, can now wait until July 15 to file their 2019 federal income tax return and pay any tax due. Last month, the IRS announced that taxpayers generally have until July 15, 2020, to file and pay federal income taxes originally due on April 15. The official deadline for most people to file federal tax returns is Tuesday, April 15, 2025.
Nebraska Gov. Pete Ricketts announced that Nebraska will have until July 15 to pay state income taxes. The State of California Franchise Tax Board postponed until July 15 the filing and payment deadlines for all individuals and business entities. The IRS has also been a key player in doling out government relief payments, and is helping to send out the third round of payments in the middle of the current tax filing season. Tax season was delayed from the start as the IRS began to accept and process tax returns on Feb. 12, which was a two-week delay from previous years.
You can submit your 2024 federal tax return as early as late January 2025. In Virginia, individual income tax filings were originally due May 1. The Tennessee Department of Revenue has extended the due date for filing and paying franchise and excise tax to July 15.
Of the 41 states that do impose state income tax, most adhere to the April 15 federal filing deadline. April 15, 2025, is also the deadline to file a six-month tax extension with the IRS if you need more time to file your taxes. Here are your deadlines to complete and mail in or electronically transmit your 2024 federal tax return. Generally, the deadline to file taxes is April 15, but according to the IRS site, Emancipation Day, April 16, – a legal holiday in the District of Columbia – affects the filing deadlines. Last year, the agency also extended the deadline because of the COVID-19 pandemic, giving taxpayers until July 15 to file.
What do I do about missing tax forms?
The IRS offers extensions in the event of a disaster. You also need to plan how you’re going to pay what you owe, if applicable. In 2018, the deadline was April 17, according to an announcement made in January of that year.
IRS delays tax filing deadline to May 17 because of COVID-related changes
The IRS announced the official start date for tax filing season as Monday, Jan. 27, 2025. Here are the key dates you need to know to get you through this tax filing season. Plus, there are several regions that have tax extensions due to hurricanes, flooding, fires and other natural disasters. Additional details on the taxpayer relief announced today are available on IRS.gov. Get credits and deductions Get your refund
The most common company year end is 31 March, if this is you this means you need to file your company accounts by 31 December 2020. Failure to do so can result in some hefty fines, as much as 30% of the tax owed. You will need to register online on the GOV.UK website to receive your 10-digit Unique Taxpayer Reference.
The pandemic hit in the middle of last year’s tax filing season, setting the agency back in terms of processing. The agency is grappling with staffing and outdated IT systems at a time when it’s also implementing sweeping tax code changes from the COVID-19 relief packages. “This extension is absolutely necessary to give Americans some needed flexibility in a time of unprecedented crisis,” Neal and Pascrell said in the statement. Rettig said filing electronically with direct deposit is the quickest way to get refunds.
This timing applies to your entire refund, not just the part that’s related to the specific credit you claimed on your tax return. While a majority of states adhere to the federal government’s timetable, some have their own deadlines, too. This year taxpayers in Texas, Oklahoma or Louisiana have a longer deadline after FEMA issued major disaster declarations because of severe winter weather. Tax preparation software – Use tax preparation software of your choice to file your taxes electronically or on paper.
