Here is a friendly reminder to everyone who waited to send in their tax returns, they are due July 15!!! And July 15 is coming up. Most fiings due between April 1, 2020 and July 14, 2020 were automatically extended due to the Coronavirus to July 15. If more time is needed to file after the July 15 deadline, an extension will need to be filed to avoid late fees.
Here is a list of all forms postponed automatically until July 15:
For Individuals, all 1040 versions
For estates and trusts, Forms 1041 and 706
For businesses, Forms 1065, 1120, 8804 and 8805
For estimated tax, the June payment was extended to July 15, Form 1040-ES
For excise tax, Form 990 and 4720
For net investment income tax, Form 8960
For tax exempt organizations, Forms 990, 8871 and 8872
For base erosion payments, Form 8891
For FATCA report, Form 8966
For employee plans, Form 4500 series
Remember, it’s not a good idea to wait until July 15 to file. Sometimes your tax preparer will ask you to get additional information or sometimes an efile doesn’t go through and needs to be resent. Also, appointments are generally first-come, first-serve so it’s always wise to schedule ahead of time. That way if something comes up on your end too, there is still time to make sure you meet the filing deadline.
Written June 11, 2020 by:
Laura R Fleig, Accountant in Portland, TX
Sources:
www.irs.gov “Coronavirus Tax Relief: Filing and Payment Deadlines” https://www.irs.gov/coronavirus/coronavirus-tax-relief-filing-and-payment-deadlines June 3, 2020
