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03-20-2020 11:46 AM
GOOD. We always own and this will give us a few extra months to not have to pay them.
03-20-2020 01:54 PM
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.
03-20-2020 04:25 PM
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
03-20-2020 05:23 PM
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."
03-20-2020 06:16 PM
03-20-2020 06:19 PM - edited 03-20-2020 06:22 PM
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.
03-20-2020 06:50 PM
@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.
03-20-2020 06:55 PM
@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.
03-21-2020 08:23 AM
@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.
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