CCPA Whitepaper:
The 2019 Tax Deadline Extension
Your tax return is due 7/15/20:
- The Federal tax deadline was extended from 4/15/20 to 7/15/20.
- There will be no late penalties or interest assessed on 2019 tax payments made by 7/15.
- This extension is for all individual and business returns that were due on 4/15/20.
- This is extension does not apply to estate returns (Form 706)
- State deadlines – Each state is passing separate legislation about the due dates. Many are falling in line with the IRS deadline of 7/15, others are choosing different dates.
- NY, NJ, CA, CO, CT, DC, MA, PA, SC, NC have all been extended to 7/15
- For any other state filing deadlines, please ask us for an update.
You have more time to contribution to 2019 retirement accounts and HSAs:
- IRA contributions for 2019 are now due 7/15.
- SEP contributions for 2019 are now due 7/15.
- HSA contributions for 2019 are now due 7/15.
You have more time for 2020 estimated tax payments:
Our quarterly reminders will have specific instructions about due date changes throughout the year.
- Federal 2020 estimates
- Q1 2020 estimates are now due 7/15
- Q2 2020 estimates are now due 7/15
- State 2020 estimates
- NY extended the Q1 estimate to 7/15
- For any other state filing deadlines, please ask us for an update.
FAQs:
- Your return was already efiled with electronic payments scheduled for 4/15 and you want to change the payment to 7/15
- Federal payments – you may revoke (cancel) your payment by contacting the US Treasury at 888-353-4537. You must call to make a payment cancellation request no later than two business days prior to the scheduled payment date.
- NY payments – cancel your scheduled payment at least two days before the direct debit date by calling 518-485-7884. When you call, have a recent return and your payment information available. (If you have an Online Services account with NY, login and use View and cancel scheduled payments.)
- You have a current installment plan with the IRS, and wish to suspended payments until 7/15.
- If you mail payments, you can just skip them.
- If you have a direct debit agreement, and wish to suspend, please ask us for an update.
- You owe taxes for prior years.
- All IRS action for levies, suspension of passports and collection procedures are suspended until 7/15.
- Let’s submit all requests for plans before the IRS reopens the collection process on 7/15!
Updated 04.10.20
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