If you requested an extension to file your 2019 tax return, then there’s an important date you should keep in mind.
Taxpayers who requested an extension have until Thursday, October 15 to file their taxes. The original deadline was July 15, but taxpayers had the option of requesting an extension so long as they paid a part or all their taxes before that date.
If you are due a refund, you should file as soon as you can and, if possible, electronically. This will help you get your return faster and deposited directly into your financial account. And remember: There are no penalties for filing a late return if you are due a refund.
File On Time to Avoid Penalties
Filing on time will help you avoid penalties if you were granted an extension. If, on the other hand, you didn’t request an extension by the July 15 deadline, you should pay and file as soon as possible to avoid penalties and interest.
Members of the military are an important exception to these rules. Military personnel serving in a combat zone have until at least 180 days after they leave the combat zone to file and pay any taxes due.
The IRS puts at the disposal of taxpayers online options to both file and pay taxes. However, it’s always a good idea to seek the assistance of a tax expert to ensure that your withholding is correct and that you get all the credits you qualify for.
Learn More About Taxes
Gaining in-depth knowledge about taxes is always a good idea. These are some previous posts you can read for more useful ideas, tips, and reminders.
- Remember: unemployment compensation is taxable
- Home Office Tax Deduction: everything you need to know
- What to do if you didn’t file your taxes on time
- 3 Online resources you’ll need after filing your taxes
- 5 Tips to keep in mind when you file your taxes
Contact the Experts at Meadville Tax Service
The COVID-19 outbreak has brought about substantial changes in the world of taxes. Stay on top of this complex landscape by seeking assistance from the experts at Meadville Tax Service and rest easy knowing that a dependable group of tax professionals has your back.
At Meadville Tax Service we have made it our mission to assist you so you can file your taxes efficiently, limiting your tax liability while staying compliant with federal tax regulations.