July 15: New Tax Return Filing Extension Date

As we expected, the Service has 'chipped in' and extended Tax Day from April 16th, 2020 to July 15th, 2020. Thank you! Here are some additional information from the Service that many of us may find useful:

• Taxpayers can also defer federal income tax payments due on April 15, 2020, to July 15, 2020, without penalties and interest, regardless of the amount owed. This deferment applies to all taxpayers, including individuals, trusts and estates, corporations and other non-corporate tax filers as well as those who pay self-employment tax.
• Taxpayers do not need to file any additional forms or call the IRS to qualify for this automatic federal tax filing and payment relief. Individual taxpayers who need additional time to file beyond the July 15 deadline, can request a filing extension by filing Form 4868 through their tax professional, tax software or using the Free File link on IRS.gov. Businesses who need additional time must file Form 7004.

The IRS urges taxpayers who are due a refund to file as soon as possible. Most tax refunds are still being issued within 21 days.

Tax Largie, Inc. is practicing Social Distancing, too. It's the right thing to do! Therefore, we will be processing tax returns from documents received through electronic media: email, text, etc. We're doing our part to prevent the spread of COVID-19.

If you have any questions, please contact us at (786) 715-6781 or dsl@taxlargiecpa.com

Be safe!