If you have been following the new stories you know how much chaos the coronavirus pandemic is causing. News broadcasts across the world are filled with stories and information about how the pandemic is affecting people throughout the world. Here in the United States something unprecedented has happened that Mark Dicus & Company wants to make sure you are aware of. The United States government has extended the tax deadline for 2019 taxes.
Tax Return Due Date
In March 2020 Steven Mnuchin, the United States Treasury Secretary announced that because of the coronavirus the tax deadline will be extended for 90 days. The new deadline for getting your 2019 taxes filed is July 15, 2020. Normally you are penalized if you do not file your taxes before Tax Day which is April 15. Under normal circumstances the IRS begins their late fees and interest on April 16. This year those penalties and fees will not begin until July 16, 2020.
How to File a Tax Extension
As always, you can still apply for a tax extension if you cannot file before July 15, 2020. You will need to make sure that you call Mark Dicus & Company to help you get your tax extension form filled out properly and submitted. If you do not submit this form in time, then you will have to pay the penalties and fees as normal after July 15.
2019 Tax Refund Schedule
We have had numerous phone calls and emails from our amazing clients about what this unprecedented extension means for them. The first question that many people have is what happen if they already filed their taxes and are expecting a return. The IRS is still functioning as normal. Your tax refund will arrive as planned. The IRS has reassured everyone that they are not shutting down during this pandemic.
Can I File My 2019 Tax Return Now?
Our clients have also wanted to know if they can file their taxes between now and July 15. As stated above, the IRS is still functioning as normal at this time. You can file your taxes as normal if you have them completed. Mark Dicus & Company is still open and available to help you with your taxes for 2019.
Why was 2019 Tax Deadline Extended?
The next question is why did the government extend the deadline if they are still functioning normally? The government extended the deadline for several reasons. This will give those that owe the IRS money when they file their taxes some more time before that payment needs to be made. With the economy in such turmoil right now they knew that many Americans would be affected. Having a few more months to file your taxes should help relieve some financial pressure for these individuals. They also made this decision because they knew that some people may not have a chance to get to their accountants during this time to have their taxes prepared.
Tax Return Preparation, Filing & More in Summerlin, North LV, Henderson, Lone Mountain Village & Greater Las Vegas, Nevada
Here at Mark Dicus & Company we support the decision made by the IRS to extend the tax deadline this year. We are happy to help you with your taxes during this time. To keep everyone safe we do have some precautions that we have set in place. If you would like more information on these precautions do not hesitate to give us a call.