With all of the last minute changes and automatic extensions that have happened due to COVID19, you may be wondering when your taxes are actually due.
- The filing and payment deadline of Federal return has been automatically extended to July 15th, 2020 due to the pandemic.
- If you cannot file by this date, you can still request a filing extension to October 15th.
- However, you cannot extend payment beyond July 15th. If your return is not paid in full by July 15th, you can be assessed penalties and interest.
All states have extended their filing and payment deadlines for income taxes to July 15th, with the following exceptions:
- Iowa has extended filing and payment to July 31st. (https://tax.iowa.gov/iowa-extend-filing-and-payment-deadline-income-tax-and-other-tax-types)
- Hawaii has extended filing and payment to July 20th. (https://tax.hawaii.gov/covid-19/)
- Idaho has extended filing and payment to June 15th. (https://tax.idaho.gov/i-2075.cfm)
- Mississippi has extended filing and payment to May 15th. (https://www.dor.ms.gov/Pages/COVID-19.aspx)
- Virginia has extended filing to May 1st, but they also have an automatic 6 month extension so your return is not due until November 2nd. Payments have been extended to June 1st. (https://www.tax.virginia.gov/news/do-you-need-more-time-file)
- Puerto Rico has extended to June 15th.
If you cannot file your state return by the deadline, you can also request a filing extension. Some states automatically grant an extension, some grant an extension as long as you filed a federal extension, while others require a separate filing in order to extend.
A list of which states automatically grant extensions or accept the federal extension can be found at https://cs.thomsonreuters.com/ua/ut/2018_cs_us_en/states/i_all_states/states_extension_overview.htm
For detailed information state-by-state list of deadlines, visit https://www.aicpa.org/content/dam/aicpa/advocacy/tax/downloadabledocuments/coronavirus-state-filing-relief.pdf
Clergy Financial Resources serves as a resource for clients to help analyze the complexity of clergy tax law, church payroll & HR issues. Our professionals are committed to helping clients stay informed about tax news, developments and trends in various specialty areas.
This article is intended to provide readers with guidance in tax matters. The article does not constitute, and should not be treated as professional advice regarding the use of any particular tax technique. Every effort has been made to assure the accuracy of the information. Clergy Financial Resources and the author do not assume responsibility for any individual’s reliance upon the information provided in the article. Readers should independently verify all information before applying it to a particular fact situation, and should independently determine the impact of any particular tax planning technique. If you are seeking legal advice, you are encouraged to consult an attorney.
For more information or if you need additional assistance, please use the contact information below.
Clergy Financial Resources
11214 86th Avenue N.
Maple Grove, MN 55369
Tel: (763) 425-8778
Fax: (888) 876-5101