Individual income tax returns normally due on April 15th have been automatically extended until July 15th due to difficulties brought on by COVID-19. We’re including a few additional reminders concerning income tax due dates.
- BWTP is working to complete individual income taxes by the July 15th deadline. In order for us to complete returns timely, we have set an internal deadline of June 1st to receive your tax information. This allows us time to complete your returns accurately and timely, and to avoid the last minute scramble to complete returns by the due date.
- Taxpayers needing additional time beyond the July 15th deadline can request more time, but the extended due date remains at the original extended due date of October 15th. Individual returns can file Form 4868 to obtain the additional time. Any taxes due on the 2019 returns should be paid along with the extension form.
- The 1st and 2nd quarter estimate payments for the 2020 tax year have also been automatically extended to July 15th. If your business has been shutdown to the Coronavirus, you may not have any tax payments due July 15th. Please contact your BWTP Team Member to assist with your estimated tax payments.
- Along with the automated extension for individual income tax returns to July 15th, the Treasury Department has announced additional time for taxpayers to contribute to IRA’s, Roth IRA’s, and Health Savings Accounts to coincide with the July 15th deadline.
As always, we are here to help you get through the crisis. Please don’t hesitate to contact us if you have any questions or need assistance pertaining to your tax returns.