HERE’S WHAT YOU NEED TO KNOW

IRS is moving many tax deadlines to July 15

More than half a million cases and millions of people locked down. It’s not some war casualty data but something even more scary and intense. It is data of the coronavirus creating disaster in the U.S. In response to this coronavirus outbreak, the U.S. income tax deadline has been extended from April 15 to July 15, 2020, to allow Americans more time to file their taxes. Here is all you need to know about the new deadline.

When are the tax due ?

2019 Federal Income Tax returns are due July 15, 2020. “The Treasury Department and Internal Revenue Service announced today that the federal income tax filing due date is automatically extended from April 15, 2020, to July 15, 2020.” https://www.irs.gov/newsroom/tax-day-now-july-15-treasury-irs-extend-filing-deadline-and-federal-tax-payments-regardless-of-amount-owed

Am I eligible for the new tax deadline ?

The new deadline applies to ALL Taxpayers, as well as “trusts and estates, corporations and other non-corporate tax filers,” according to the IRS.

Step 3: Do I need to file for a tax extension to be eligible for the new deadlines ?

No. For this new deadline, all taxpayers are automatically eligible.

Does the new deadline apply to all taxes ?

Almost. Details can be found in the link below

https://www.irs.gov/newsroom/irs-extends-more-tax-deadlines-to-cover-individuals-trusts-estates-corporations-and-others

 

Will my tax refund be delayed?

No. Most tax refunds will be paid within 21 days of filing. “The IRS urges taxpayers who are due a refund to file as soon as possible. Most tax refunds are still being issued within 21 days.”

https://www.irs.gov/newsroom/tax-day-now-july-15-treasury-irs-extend-filing-deadline-and-federal-tax-payments-regardless-of-amount-owed

 

These steps are made to ensure the ease of people. For further information, feel free to contact us at info@fastprofessional.com