COVID 19, stay- at- home orders, business slowdowns… and negative economic consequences. The whole mess has prompted the I-R-S to show its “kinder, gentler” side in 20-20. The agency, you’ll recall, gave taxpayers an extension to file — and to pay — this year! Moving the date from April 15th to July 15th. Well, things have not improved as quickly as we had hoped. So you may be thinking about filing for another extension. Which is fine, but remember: **his time around… an extension to file does not give you an extension to pay. Even if you get the reprieve and your filing date moves to October 15th… your tax payment is still due on July 15th.
Now, to get the filing extension…you need form 4868. You can go to your tax professional, use tax software, or find it at IRS.GOV. Despite all the disruption in our daily life lately… the I-R-S continues to process electronic returns, issue direct deposit refunds, and accept electronic payments. If you use snail mail, they are back to processing those returns as well, it will just take a little longer. It’s certainly not tax business as usual in 20-20. So if you need help with this or any tax issue… call the law office of mary king, or visit taxlawyerflorida.com.