2019 Federal Tax Deadline Extensions

2019 Federal Tax Deadline Extensions

You may have heard that the 2019 tax deadlines have been extended due to the COVID-19 pandemic. Read on for the details, as well as a note on IRA and HSA contribution deadlines. 

2019 Tax Filing and Tax Payment Deadlines Extended: It’s official: the IRS extended the federal income tax filing deadline from April 15th to July 15th. They had previously extended the payment deadline, but now you don’t need to file your tax return (or extension) until July 15th. This extension applies to all individual returns, trusts, and corporations. This relief is automatic, taxpayers do not need to file any additional forms or call the IRS to qualify.

This relief only applies to federal income returns and tax (including the tax on self-employment income) payments otherwise due April 15, 2020, not state tax payments or deposits or payments of any other type of federal tax. State filing and payment deadlines vary and are not always the same as the federal deadlines. 

The California tax filing and tax payment deadline has been extended from April 15 to July 15, 2020. For those in other states, make sure to check with your state tax agency for details: https://www.taxadmin.org/state-tax-agencies.

Q1 2020 Estimated Tax Payment Deadline Extended: The federal tax extension also applies to any first quarter estimated tax payments that are due by April 15th. No mention has been made about second-quarter estimated tax payments. So as it stands, those would still be due on June 15th (yes, that means that second-quarter payments are due before first-quarter payments).

IRA Contribution Deadline Extended: The deadline for IRA contributions has been extended. Contributions to IRA accounts for the 2019 tax year that would have been due April 15 can now be made until July 15, 2020.

HSA Contribution Deadline Extended: Just like tax filing and IRA contribution deadlines, the deadline to make contributions to an HSA for a tax year is typically April 15 of the following year. As you may have already guessed, for 2019 taxes, this deadline has also been extended and you can contribute until July 15, 2020.

Check out our COVID-19 resource page for more blog posts, videos and helpful information for businesses during the Coronavirus pandemic.

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