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Archive for April 9th, 2020

IRS Broadens Application of July 15 Filing Date

Posted by taxguru on April 9, 2020

IRS has just published a press release moving more deadlines to July 15 than just the ones covered in their earlier pronouncements. 

IRS extends more tax deadlines to cover individuals, trusts, estates corporations and others

Of key interest to me:

The due date for the second installment of 2020 estimated taxes for individuals has been moved from June 15 to July 15.  No surprise there; except what took them so long to fix that screw-up?

Other tax returns and payments that would normally be due in between April 1, 2020 and July 14, 2020 now have until July 15.  This applies to some fiscal year C-corps, such as those with a tax year ending 1/31/20 (normally due 5/15/20) and those with a tax year ending 2/29/20 (normally due 6/15/20).

Posted in TaxDay | Comments Off on IRS Broadens Application of July 15 Filing Date

Making the Best of House Arrest

Posted by taxguru on April 9, 2020

Even though 2019 tax returns aren’t due in until July 15, it’s not a bad idea to use this time to get them done as soon as you can.  Of course, my usual advice still applies.  Don’t rush tax returns in until you have all of the information.  Amended returns do receive more IRS scrutiny than do original ones; so it is safest to be completely confident in the completeness and accuracy of your returns before sending them in.

TaxesDoneEarly

Posted in TaxDay | Comments Off on Making the Best of House Arrest