topic Re: Tax filing deadline moved from April 15th to July 15th in Community Chat

Tax filing deadline moved from April 15th to July 15th

Marp — Fri, 20 Mar 2020 14:23:20 GMT

Treasury Secretary Steve Mnuchin on Friday announced that Americans will have an additional three months to file their federal taxes.

“At [President Donald Trump’s] direction, we are moving Tax Day from April 15 to July 15,” Mnuchin revealed on Twitter. “All taxpayers and businesses will have this additional time to file and make payments without interest or penalties.”

Re: Tax filing deadline moved from April 15th to July 15th

bonnie f — Fri, 20 Mar 2020 14:24:10 GMT

i just thought about this yesterday. thanks for letting us know

Re: Tax filing deadline moved from April 15th to July 15th

DrakesMomma — Fri, 20 Mar 2020 14:32:05 GMT

Please don't rely on Twitter for important info. I just checked IRS dot gov and the payment deadline has been extended to July 15. Taxes still must be filed by April 15.

Re: Tax filing deadline moved from April 15th to July 15th

scatcat — Fri, 20 Mar 2020 14:45:21 GMT

Marp is correct.

Re: Tax filing deadline moved from April 15th to July 15th

Financialgrl — Fri, 20 Mar 2020 15:06:43 GMT

@DrakesMomma wrote:
Please don't rely on Twitter for important info. I just checked IRS dot gov and the payment deadline has been extended to July 15. Taxes still must be filed by April 15.

I just got the same alert on my phone. I don't think a lot of ppl understood that when they were talking about extending income taxes 90 days that originally it meant tax returns were still due Apr 15 but you had 90 days to pay if you owed money. Kind of stupid but glad to see they were finally able to shore up the two.

Re: Tax filing deadline moved from April 15th to July 15th

Pearlee — Fri, 20 Mar 2020 15:07:31 GMT

From what I read you still must FILE by 4/15. RobbiesAuntJenny's info is what I read in our local newspaper.

Re: Tax filing deadline moved from April 15th to July 15th

millieshops — Fri, 20 Mar 2020 15:08:22 GMT

The extension is good although for me it's not helpful. For the first time in many, many years I don't owe - even getting a small refund. Just enough to eat out once if there were any place to eat out, but not complaining. I was afraid I'd owe!

Re: Tax filing deadline moved from April 15th to July 15th

FrostyBabe1 — Fri, 20 Mar 2020 15:11:13 GMT

Marp is correct.

Originally they were extending the time to pay, but you still had to file by April 15th. The filing date has now been pushed back as well. This has all happened within the last 45 minutes.

I got alerts on this from Yahoo Finance, the NY Times and Politico.

Re: Tax filing deadline moved from April 15th to July 15th

queendiva — Fri, 20 Mar 2020 15:29:53 GMT

I have already filed, but will hold on to my $ until 7/15.

This is a good time for people to work on their tax returns. Most of us have some extra time at home now. Best to get it done and out of the way, if possible.

Maybe you can consult with your tax preparer over the phone and get most or all of it done in the coming weeks, if you do it that way.

Re: Tax filing deadline moved from April 15th to July 15th

mmcd — Fri, 20 Mar 2020 15:41:53 GMT

From the IRS website:

March 18, 2020

The Treasury Department and the Internal Revenue Service are providing special payment relief to individuals and businesses in response to the COVID-19 Outbreak. The filing deadline for tax returns remains April 15, 2020. The IRS urges taxpayers who are owed a refund to file as quickly as possible. For those who can't file by the April 15, 2020 deadline, the IRS reminds individual taxpayers that everyone is eligible to request a six-month extension to file their return.

Individuals: Income tax payment deadlines for individual returns, with a due date of April 15, 2020, are being automatically extended until July 15, 2020, for up to $1 million of their 2019 tax due. This payment relief applies to all individual returns, including self-employed individuals, and all entities other than C-Corporations, such as trusts or estates. IRS will automatically provide this relief to taxpayers. Taxpayers do not need to file any additional forms or call the IRS to qualify for this relief.

Re: Tax filing deadline moved from April 15th to July 15th

SeaMaiden — Fri, 20 Mar 2020 15:46:34 GMT

GOOD. We always own and this will give us a few extra months to not have to pay them.

Re: Tax filing deadline moved from April 15th to July 15th

Financialgrl — Fri, 20 Mar 2020 17:54:27 GMT

My taxes were filed a while ago but I have a brother/SIL who have to wait for a K-1 each year and it just came. She wanted to wait till June or July since we have the extension but the thing not yet clear - - in VA (and probably other states) federal taxes have always been due Apr 15 but here our state not until May 1.

To prepare your VA state taxes you need information from your federal return - so it'd be nice if VA granted the same automatic 90 days.

Re: Tax filing deadline moved from April 15th to July 15th

MorningLover — Fri, 20 Mar 2020 20:25:01 GMT

According to the latest government data available, as of March 13, the IRS has received more than 76 million returns and has issued more than 59.2 million refunds.

The average refund check was $2,973.

While the IRS is reportedly going to increase pressure to have states align with the new federal deadline, it is important for people to check with their local government to make sure they do not miss their obligation in their state.

~USAToday reported

Re: Tax filing deadline moved from April 15th to July 15th

Warrior2022 — Fri, 20 Mar 2020 21:23:57 GMT

Can someone please clarify this for me. When I look at the site, it says "This guidance does not change the April 15 filing deadline."

Re: Tax filing deadline moved from April 15th to July 15th

lovesrecess — Fri, 20 Mar 2020 22:16:12 GMT

Just checked and the tax filing deadline has also been moved to July15. Not sure what the benefit is of moving both deadlines.

Re: Tax filing deadline moved from April 15th to July 15th

FrostyBabe1 — Fri, 20 Mar 2020 22:22:19 GMT

Keep in mind that this is ONLY for Federal returns. I live in Michigan, and they're still saying April 15th is the deadline. Since the Michigan return starts with info from the Federal, the Federal return still needs to be done in order to file with the state on time. Given my conversation with my accountant earlier this week, mine are 99% done, so I'm not worried about it.

Re: Tax filing deadline moved from April 15th to July 15th

september — Fri, 20 Mar 2020 22:50:19 GMT

@FrostyBabe1 Yes, those of us who also file state returns, need those states to also extend the deadlines.

One of my states has done this. Waiting to hear from the other two.

Re: Tax filing deadline moved from April 15th to July 15th

FrostyBabe1 — Fri, 20 Mar 2020 22:55:31 GMT

@september wrote:
@FrostyBabe1 Yes, those of us who also file state returns, need those states to also extend the deadlines.

One of my states has done this. Waiting to hear from the other two.

I'm pretty confident that Michigan will do it, the folks in charge just have another thing or two going on right now.

Re: Tax filing deadline moved from April 15th to July 15th

Financialgrl — Sat, 21 Mar 2020 12:23:22 GMT

@september wrote:
@FrostyBabe1 Yes, those of us who also file state returns, need those states to also extend the deadlines.

One of my states has done this. Waiting to hear from the other two.

So yesterday they extend the state date to June 1 - not good enough bc I'm in VA and in order to file your state your federal return has to be done - so if you delay your taxes till July you will need to get an extension for the state.