Tuesday, June 16, 2020

COVID Tax Tip 2020-71: An extension to file is not an extension to pay taxes

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IRS Tax Tips June 16, 2020

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Issue Number: COVID Tax Tip 2020-71


An extension to file is not an extension to pay taxes 


For most taxpayers the filing and payment deadline was postponed July 15. Those who need more time to file beyond the postponed date, can request an extension to file. Taxpayers must request an extension to file by July 15. This gives them until October 15 to file their tax return. An extension to file is not an extension to pay. Taxes must be paid by July 15.

How to request an extension to file
To get an extension to file, taxpayers must do one of the following:
•  File Form 4868 through their tax professional, tax software or using Free File on IRS.gov.
•  Submit an electronic payment with Direct Pay, Electronic Federal Tax Payment System or by debit, credit card or digital wallet and select Form 4868 or extension as the payment type.

An automatic extension of time to file will process when taxpayers pay all or part of their taxes electronically by the Wednesday, July 15 due date.

Although the tax filing deadline has been postponed to July 15, 2020, the IRS continues processing electronic tax returns, issuing direct deposit refunds and accepting electronic payments.

The agency is now is back to processing paper tax returns sent by mail. However, taxpayers who mailed a paper tax return will likely experience a longer wait time. Those who have already mailed a paper tax return but, it hasn't yet been processed, should not file a second tax return or write the IRS to check the status of their tax return or Economic Impact Payment.


More information:
Coronavirus Tax Relief: Filing and Payment Deadlines
Coronavirus Tax Relief and Economic Impact Payments


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