The IRS has reminded taxpayers who have not filed their 2019 federal tax return to file electronically and choose direct deposit for their refund. Further, taxpayers who owe taxes for 2019 or need to pay 2020 estimated taxes originally due for the first quarter on April 15 or the second quarter on June 15 can schedule an electronic payment up to the July 15 due date. The Service has urged taxpayers to use electronic options to support social distancing and speed the processing of tax returns, refunds and payments. Moreover, a list of forms due July 15 is on the Coronavirus Tax Relief: Filing and Payment Deadlines page.
For 2016 tax returns, the normal April 15 deadline to claim a refund is now July 15, 2020. The Service has also advised taxpayers to use direct deposit to deposit their refund into one, two or even three accounts. In addition, taxpayers can file and schedule their federal tax payments up to the July 15 due date. When paying federal taxes electronically taxpayers should remember that IRS Direct Pay allows them to pay online directly from a checking or savings account for free, and to schedule payments up to 365 days in advance. Individual tax filers, regardless of income, can use IRS Free File to electronically request an automatic tax-filing extension which gives them until October 15 to file their tax return. To get the extension, the taxpayers must estimate their tax liability on the extension form and should pay any amount due. Alternatively, taxpayers can get an extension by paying all or part of their estimated income tax due and indicate that the payment is for an extension using IRS Direct Pay, the Electronic Federal Tax Payment System (EFTPS), or a credit or debit card. The IRS has requested taxpayers to use the Interactive Tax Assistant (ITA) and go to IRS.gov/COVIDtaxdeadlines to get their tax-related queries addressed.
Wilson Tax Law Group, APLC (www.wilsontaxlaw.com) is a boutique Orange County tax controversy law firm that specializes in representation of individuals and businesses before federal and state tax authorities with audits, appeals, FBAR, offshore compliance, litigation and criminal defense. The firm was founded in 2014 by Joseph P. Wilson, a former Federal tax prosecutor, trial attorney for the IRS and trial attorney for the Franchise Tax Board.
For further information, or to arrange a consultation please contact: Wilson Tax Law Group, APLC
Newport Beach and Yorba Linda, California