It’s my annual Taxes from A to Z series! If you’re wondering how to figure basis for cryptocurrency or whether you can claim home office expenses during COVID, you won’t want to miss a single letter.
E is for Extended Due Dates.
We all know that the normal tax filing season deadline is April 15. But this tax filing season is far from normal.
Due to COVID-19, the original tax filing deadline and tax filing payment due date for 2019 was extended from April 15, 2020, to July 15, 2020. On June 29, 2020, the Department of the Treasury and the Internal Revenue Service (IRS) announced that the 2019 tax filing deadline would not be extended further and remains July 15, 2020.
Some exceptions apply – like for victims of those April storms.
But otherwise, individual taxpayers who cannot meet the July 15 due date can request an automatic extension of time to file. Keep in mind that the extension is a six-month extension from the original filing date of April 15, meaning that an extension will extend the time to file to October 15, 2020. It is not a six-month extension from the extended due date of July 15, 2020. For more on filing for extension, click here.
You can find the rest of the series here:
