Remember: You Have Until July 15 to File and Pay Your Taxes
It’s important to keep in mind that the deadline to file and pay your taxes is July 15.
Tax Day was originally scheduled for April 15, but it was moved due to the impact of the coronavirus outbreak. You don’t have to fill any form, take any further action or contact the Internal Revenue Service (IRS) to take advantage of this extension. It has been applied automatically to all taxpayers.
Benefits of Paying and Filing Your Taxes Electronically
If you expect to get a refund, it’s advisable to make sure that your filing and payment are done electronically. This way, you would get your refund within approximately 21 days. On the other hand, taxpayers who file on paper by mail have to wait up to six weeks to get their refunds.
Filing and paying your taxes electronically is a precise, convenient and safe option because all data is protected with modern encryption techniques.
If you need more time to file your taxes beyond July 15, then you can request a tax-filing extension in two ways:
- Filing form 4868 through their tax professional or through the IRS’ website.
- Submitting an electronic payment and selecting form 4868 as the payment type.
Remember that an extension to file is not an extension to pay. You still have to pay your taxes by the original deadline
Get Advice From a Reliable Tax Professional
Finally, remember that this extension applies only to federal taxes. Check with your local tax agency or a trusted tax professional to stay up to date regarding deadlines to file and pay state taxes.
It’s important to know this and other updates to navigate the current circumstances. Our knowledgeable, friendly experts at JT Tax Services will help you so you can take advantage of all the relief initiatives you are eligible for.
At JT Tax Services we have the experience, the knowledge and the drive to assist you. With our advice, you can file your taxes with the peace of mind that comes with knowing that you are limiting your liability while staying compliant with federal and state tax regulations.