HELPFUL INFORMATION FOR YOUR BUSINESS DURING COVID-19

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2019 Tax Filing Deadline & Extension

The 2019 federal tax filing deadline was moved from April 15th to July 15th – and that date is approaching fast. If you can’t file your return by July 15th, you can file an extension to give yourself more time.

An extension would push your tax filing deadline to October 15. However, it does NOT change your tax payment deadline! If there is any money due with your 2019 return, the due date for the payment is July 15.

For individual state tax deadlines, visit efile.com/states.

2019 Tax Payment Deadline

As mentioned, the 2019 tax payment deadline is July 15, even if you file an extension. If you file an extension and end up owing money with your return, you will incur penalties and interest charges every month, which can substantially increase your tax bill.

That means if you plan on filing an extension, you still need to estimate the amount of taxes you might owe with your return. That estimated amount should be paid with the extension by July 15. When you eventually file your return, if your estimate was too high, you will get the extra amount back. If the estimate was too low, you will owe the additional amount plus interest and penalties – but the interest and penalties will be a lot lower than if you hadn’t made the payment with the extension.

If you think that you will be getting a refund with your return, you don’t have to make a payment with the extension. But remember – the IRS and your state don’t share resources – if you think you will owe taxes on one return and will get a refund on the other, you can’t combine the two. You still have to make a payment for the return that you think will have a balance due – and wait until you file the return to get a refund.

About the Author

Andy Smith

Andy Smith

Andy Smith, Founder of Numberwise, has been a CPA since 2004 (pretty impressive, huh?). He leads the strategic vision of the company, signs all those fun tax returns, and tries not to get in the way too much. Learn more about Andy and the rest of the team on the About Us page.
Andy Smith

Andy Smith

Andy Smith, Founder of Numberwise, has been a CPA since 2004 (pretty impressive, huh?). He leads the strategic vision of the company, signs all those fun tax returns, and tries not to get in the way too much. Learn more about Andy and the rest of the team on the About Us page.
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