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IRS tax deadline is July 15, here are some useful tips for last-minute filers

IRS: Extension does not mean added time to pay
Posted at 7:31 AM, Jul 15, 2020
and last updated 2020-07-15 11:06:21-04

LAS VEGAS (KTNV) — The federal income tax deadline is here!

2019 taxes would have been due April 15, but due to the pandemic this year, the federal government gave taxpayers more time to file, pushing the deadline back to July 15.

RELATED: Money Talks: Tax Deadline FAQs

FILING AFTER THE DEADLINE

The IRS says you must file and pay your taxes by July 15.

If you need more time, you can file for an extension with a new filing date of October 15. However, there are steep penalties if you forget to request an extension before Wednesday.

To ask for an extension:

  • Go to IRS.gov and click on the tab that says "File for an extension"
  • Download Form 4868 and mail or e-file it to the IRS before midnight on July 15
  • Call your tax preparer and ask them to file for an extension for you

However, an extension to file does not mean added time to pay. Your best bet is to estimate what you owe and send in a check for that amount.

RELATED: Advice on filing your taxes amid the COVID-19 outbreak

WHAT IF I CANNOT PAY IN FULL?

If you are facing hardships and cannot pay in full, especially if you are affected by COVID-19, the IRS has several options available to help.

Alejandra Castro with the IRS says:

The IRS will work with taxpayers who are going through a difficult financial situation. But the message is to contact us. Let us know what your story is. Let us know how we can help you.

The IRS encourages taxpayers to visit IRS.gov to explore these options.

Another extra bonus this year is that the IRS is actually giving you interest on your refunds. Refunds issued between July 1 and Sept. 30 will earn 3% interest.