State Deadlines

Many states are making changes to their individual filing and tax payment deadlines. Virginia has extended the deadline to pay, but its filing deadline remains the same. Most states that have extended their deadlines are matching the new Federal deadline of July 15th, but several have set different deadlines.

This information is changing quickly as states continue to weigh and react to the COVID-19 situation. If you have a state tax liability, make sure to check with that state on its specific deadline. Contact us if you have questions or need help.

At the time of this writing, these are the states that have extended their deadlines:

  • Alabama
  • Arizona
  • California
  • Colorado
  • Connecticut
  • District of Columbia
  • Georgia
  • Indiana
  • Iowa
  • Louisiana
  • Maryland
  • Minnesota
  • Mississippi
  • Missouri
  • Montana
  • New Mexico
  • North Carolina
  • Oklahoma
  • Oregon
  • Pennsylvania
  • South Carolina
  • Utah
  • Virginia (payment only)

Source: AICPA State Tax Filing Guidance for Coronavirus Pandemic https://bit.ly/2QtIQf4 

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2020 – 03/23

As previously reported, taxpayers can defer filing a tax return and making certain federal income tax payments, due on April 15, to July 15, without penalties or interest. What if you need more time beyond July 15? Individuals can request an extension to October 15 by filing Form 4868. However, if you’re expecting a refund, you probably want to file a return as soon as possible so you can receive the money. As for tax refunds, the IRS reports that most are currently being issued within 21 days. Contact us about how to proceed with your return.

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2020 – 03/23

Taxpayers now have an extension of time to make certain tax payments, regardless of the amount, the IRS announced March 21. The federal income tax filing due date has automatically been extended for 3 months due to the coronavirus (COVID-19) pandemic. Taxpayers can defer federal income tax payments and estimated tax payments due on April 15, 2020, to July 15, 2020, without penalties and interest. This deferment applies to all taxpayers, including individuals, trusts and estates, corporations and other non-corporate tax filers as well as those who pay self-employment tax. The extension to pay was originally announced with certain limits but the IRS has eliminated the limits. (Notice 2020-18)

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Taxpayers Owed Refunds Encouraged to File

Although the deadline has been moved from April 15th to July 15th, the IRS encourages taxpayers who will receive a refund to file as soon as possible. Most tax refunds are being issued within 21 days of filing.

“Even with the filing deadline extended, we urge taxpayers who are owed refunds to file as soon as possible and file electronically,” Chuck Rettig, the IRS Commissioner, said. “Filing electronically with direct deposit is the quickest way to get refunds. Although we are curtailing some operations during this period, the IRS is continuing with mission-critical operations to support the nation, and that includes accepting tax returns and sending refunds. As a federal agency vital to the overall operations of our country, we ask for your personal support, your understanding – and your patience. I’m incredibly proud of our employees as we navigate through numerous different challenges in this very rapidly changing environment.”

The IRS has a special coronavirus page on IRS.gov where it will continue to update information on COVID-19: https://bit.ly/390RV5u 

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Arizona Filing Deadline

The Arizona Department of Revenue (ADOR) announced it will also move it’s deadline for filing and paying Arizona income tax from April 15th to July 15th this year as many taxpayers are affected by COVID-19. Taxpayers who file their Arizona returns between April 15th and July 15th will not be assessed late filing or late payment penalties for the period between the original deadline and the new deadline. If Arizona taxpayers need more time beyond July 15th, they can file an extension.

https://bit.ly/2QyR2Li 

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Filing Deadline

The IRS has issued Notice 2020-18, which provides official guidance for the automatic extension of the Federal tax filing deadline from April 15th to July 15th this year. Taxpayers can also defer federal income tax payments due on April 15, 2020, to July 15, 2020, without penalties and interest, regardless of the amount owed. This deferment applies to all taxpayers, including individuals, trusts and estates, corporations and other non-corporate tax filers as well as those who pay self-employment tax. Taxpayers do not need to file any additional forms or call the IRS to qualify for this automatic federal tax filing and payment relief. Individual taxpayers who need additional time to file beyond the July 15 deadline, can request a filing extension. Contact us for more information.

https://bit.ly/2U6ntmu 

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