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Tax Deadline Extended

March 27, 2020

The IRS and FTB recently announced an extended deadline for 2019 tax filing and payments.  

Just days after extending the deadline for tax payments, the IRS has granted an automatic extension for tax filing through July 15, 2020.

In the past, taxpayers would have to file Form 4868 to request an extension to file.

Under the new accommodations no action is needed and taxpayers are given an extra 90 days to file.

This extension also applies to balances due in any amount and Estimated Payments.  We have yet to hear the status of IRA contributions, however.

Unlike the IRS, the State of California FTB grants an automatic extension to file and therefore does not require any additional forms.

If you're usually due a refund, it may still be beneficial to try to submit your taxes as quickly as possible so that you can receive the refund you're entitled to.

The extension deadline of October 15, 2020 for Individual taxpayers remains the same, though.  Therefore, if you need additional time to file beyond the new July 15, 2020 deadline a Request for Extension to File is recommended.