Categories
Covid Taxes

State By State Guide To Tax Deadlines For Filing & Payments During COVID-19

Forbes has put together an excellent guide to state-by-state tax filing and payment deadlines. We encourage all our Soesbe Financial clients, as well as the general taxpaying population, to file their taxes sooner rather than later, to ensure that any refunds you are owed can be disbursed in a timely manner.


Your Guide To State Tax Deadlines For Filing Returns & Making Estimated Payments During COVID-19

by Kelly Phillips Erb Senior Contributor Taxes

(Updated: June 12, 2020)

On March 20, 2020, Treasury Secretary Mnuchin extended the tax filing and payment deadline for federal income tax to July 15, 2020. This relief includes estimated payments for the first and second quarters. You can find more information and guidance here.

Some states have also extended filing and payment deadlines – but not all of them are extended to July 15, 2020. Additionally, not all state filing extensions apply to estimated payments (you’ll see the information about estimated payments in bold below). Here’s what we know so far:

Alabama: For taxpayers affected by the coronavirus (COVID-19), the due date for filing state income tax, FIET, and BPT returns and making state income tax, FIET, and BPT payments due on or after April 1, 2020, and before July 15, 2020, is postponed to July 15, 2020. Extension payments and Estimate payments due on April 15, 2020, have been postponed to July 15, 2020. However, the Order does not include estimated payments due after April 15, 2020. For example, a calendar year taxpayer’s second-quarter payment is still due June 15, 2020.

Alaska: Alaska does not have a personal income tax.

Arizona: The Arizona Department of Revenue (ADOR) announced it has moved the deadline for filing and paying state income taxes from April 15 to July 15, 2020. This includes individual, corporate, and fiduciary tax returns. Taxpayers who need more time beyond the July 15 deadline to file state income taxes should consider filing for an extension. Arizona’s delay in filing and paying state income taxes does not include an extension to pay estimated tax payments.

Arkansas: Governor Hutchinson announced the state deadline to file and pay individual income taxes has been extended to July 15, matching the federal extension. Arkansas did not extend the 2020 estimated tax payments. 

California: FTB has postponed until July 15, the filing and payment deadlines for all individuals and business entities for 2019 tax returns, 2019 tax return payments, 2020 LLC taxes and fees, and 2020 Non-wage withholding payments. California has also extended 2020 1st and 2nd quarter estimate payments to July 15.

Colorado: The income tax payment deadline has been extended for all Colorado taxpayers to July 15, 2020. All income tax returns that were required to be filed by April 15, 2020, are granted a six-month extension and are due on or before October 15, 2020. EO D 2020 010 grants an extension of time to pay until July 15, 2020, for any estimated payment due between April 15, 2020, and June 15, 2020, without penalty.

Read the full article here:

https://www.forbes.com/sites/kellyphillipserb/2020/06/10/your-guide-to-state-tax-deadlines-for-filing-returns–making-estimated-payments-during-covid-19/#2c324e2c33c9

Categories
Covid Taxes

IRS Quietly Closing Offices During COVID-19 Crisis

For a full list of services and resources still being made available to citizens, visit the IRS’s Coronavirus Tax Relief page at https://www.irs.gov/coronavirus


Kelly Phillips Erb, Senior Contributor Taxes

The Internal Revenue Service (IRS) isn’t shutting down completely – but it’s getting close. Some IRS call centers and return processing centers are closing in response to COVID-19.

COVID-19 is the official name for the infectious disease caused by the most recently discovered coronavirus. According to Johns Hopkins, as of March 23, 2020, there are 353,692 confirmed cases of COVID-19 in 167 territories and countries. The United States has 35,345 confirmed cases with reported cases in every state; only China and Italy have more confirmed cases.

As a result, on March 13, 2020, the President of the United States issued an emergency declaration under the Robert T. Stafford Disaster Relief and Emergency Assistance Act

Additionally, several Governors have issued stay-at-home orders. 

Read the full article by clicking directly through to:

https://www.forbes.com/sites/kellyphillipserb/2020/03/23/irs-quietly-closing-offices-during-covid-19-crisis-but-union-says-its-not-enough/#13a7c49e5cf0

Categories
Covid Taxes

Treasury and IRS Delay Federal Tax Day from April 15 to July 15 Due to COVID-19 Outbreak

Tax Day now July 15: Treasury, IRS extend filing deadline and federal tax payments regardless of amount owed. Even though the tax filing deadline has been extended, if you are expecting a refund, the sooner you file, the sooner you will get your money back!

For full and up to date information on the new IRS filing deadline, please visit the IRS website directly at:

https://home.treasury.gov/news/press-releases/sm953

Categories
Covid Taxes

Treasury and IRS Issue Guidance on Deferring Tax Payments Due to COVID-19 Outbreak

The government has pushed back the payment deadline to July 15th. It’s unclear whether existing interest and penalties up until April 15th will be waived. For the full and latest information on deferred payments, go directly to the IRS website:

https://home.treasury.gov/news/press-releases/sm948