If you thought that filing taxes in 2019 was a confusing process, the situation is not much simpler in 2020. With the COVID-19 pandemic sweeping through the U.S. and the world in the early months of the year, the Internal Revenue Service (IRS) has made adjustments to filing deadlines. The following is an overview of tax deadlines in 2020.
Filing Date Extended
First and foremost, the IRS has extended the standard tax filing date from April 15 to July 15, 2020. This means you do not have to file your federal returns until July, and you will not be charged interest on payments until after July 15. This can help many people who might owe taxes but are facing financial hardship due to temporary job loss or a decline in self-employed business.
Most states have adjusted either the filing date for taxes or at least the payment due date to match the IRS. California is one state that postponed both the filing and payment deadlines for all individual filers and businesses. If you owe taxes in another state, you should make sure you are aware of the relevant deadlines in that state.
Look Back to Your 2016 Taxes
Were you working part-time or a student in 2016 and did not file your returns? Did you fail to file returns for another reason? If so, you might still be owed a refund for that year. The deadline to file your 2016 returns to claim a refund is still April 15. If you fail to file for 2016 by then, you lose your opportunity to collect that refund check.
Contact Our Tax Lawyers in San Francisco
Tax issues are more confusing than ever this year. Do not hesitate to consult with a San Francisco tax attorney at Diosdi, Ching & Liu, LLP, if you have any questions. Contact us online or call 415.318.3990 for help today.