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taxes

2020 Tax Deadline: When Are Tax Returns Due This Year?

Breathe easy if you haven't finished your taxes yet. Thanks to the coronavirus pandemic, the April 15 deadline for filing your 2019 federal income tax return (and paying taxes) has been moved back.

The deadline for filing your 2019 federal income tax return, and paying any tax owed, is now July 15, 2020. It was pushed back from the normal April 15 due date to help taxpayers, and tax preparers, who are struggling with the coronavirus crisis. Penalties and interest won't apply if you file and pay any tax due before the extended deadline. (For other government changes and programs in response to the crisis, see 11 Ways the Stimulus Package and Other Government Measures Could Help You in 2020.)

Have Your Tax Refund Directly Deposited into Your Bank Account

If you're expecting a refund, e-file your 2019 tax return and opt to have your refund deposited directly into your bank account to get it sooner. The IRS can process electronic returns and refunds much faster than it can handle paper returns and checks. Signing up for direct deposit could also speed up delivery of your economic stimulus check (see Your 2020 Stimulus Check: How Much? When? And Other Questions Answered for details).

Other Tax Deadlines Extended

The IRS pushed back a whole host of other tax deadlines, too. So, you also have until July 15 to file returns and pay taxes for:

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  • Estimated taxes covering the first and second quarters of 2020;
  • Self-employment taxes owed by sole owed and others; and
  • Estate, gift and generation-skipping transfer taxes.
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You now have until July 15 to make IRA contributions for 2019, too. However, be sure that you tell your IRA custodian to apply the contribution to the 2019 year.

You also have until July 15 to fund your health savings account for 2019.

State Tax Deadlines

Don't forget to check with your state's tax agency to see if the filing and/or payment deadline for your state income tax (or other state tax) is also changed because of the coronavirus outbreak.

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