Tax Day Extended to July 15, 2020
Due to the timing and extent of COVID-19 across the country during March and April, the IRS has extended the federal income tax filing deadline from April 15 to July 15, 2020. Therefore, if you or your CPA need more time, you can get a tax extension by filing IRS Form 4868. By submitting this form, you are able to extend the federal income tax filing until October 15, 2020. However, please remember that filing for an extension does not allow more time to pay. This only gives you more time to file your return. Therefore, even if you need to extend your tax filing, you still need to estimate your tax bill and remit payment by July 15, 2020. Additionally, anything you owe after the deadline is subject to interest and a late-payment penalty if you do not pay at least 90% of your actual tax liability by July 15, 2020.