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The deadline to file and pay your taxes is July 15.

Remember: You Have Until July 15 to File and Pay Your Taxes

May 27, 2020

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.

Tax-Filing Extensions

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.

We are located in Oxnard, California. Contact us by email, telephone or through our social media accounts on Facebook, Twitter and LinkedIn to learn more about our services.

Most Unheeded Tax Deductions

By: UNIKO Media Group

September 1, 2017

Amongst the chaos of the daily life of the American citizen, it is easy to overlook common tax deductions that will save you money at the end of the year. The deductions that are missed due to the stress of waiting until the last minute to do your taxes can possibly save you hundreds more dollars. Here are a few tax deductions that are commonly overlooked.

Party Expenses

Throwing parties is an effective strategy for maintaining suitable relationships with your clients and attracting new business with associates. If you throw a party that is related to your business in any way, then you can use the money you spend on it as a tax deductible. However, it is important to remember that when it comes to entertainment, the IRS can be reasonably strict. In order for party expenses to qualify as a deductible, there must be a business discussion before, during, or after the event. Also, remember to document the event in the form of pictures, videos, or invitations.

Moving Expenses

If you have a new job and it is at least 50 miles from your old residence, then your moving expenses are tax deductible. It is important to remember that the IRS wants you to take the shortest possible route between your new job and your old residence, or the expenses will not qualify as tax deductibles. Also, you must work for a minimum of 39 weeks during the year from the moment you arrive at your new residence.

Mileage Expenses

Vehicle expense are tax deductible if you are using your car for business, medical, or charitable purposes. If you owned or leased a vehicle in 2017, American citizens were able to deduct 53.5 cents per mile. By keeping detailed records, you can choose to use the actual vehicle expenses instead of the standard mileage rate. Lastly, the standard mileage rate may not be used for more than 4 vehicles simultaneously or any vehicle used as equipment.