The deadline to file your taxes if you requested an extension is just around the corner. You should file your return on or before Thursday, October 15 to avoid penalties and interests.
What If I Haven’t Filed and Didn’t Request an Extension?
The original filing deadline was July 15 because this year Tax Day (that usually takes place April 15) was postponed due to the coronavirus outbreak.
If you still haven’t paid and filed your taxes, then you should take action as soon as possible. Contacting a tax expert may be a good idea if you haven’t done so yet. Also, remember that there are no penalties for filing late if you are due a refund.
What to Do if I Can’t Pay the Full Amount?
If you can’t pay the entirety of your tax bill, you can consider applying online for a payment plan. You can also contact the IRS—in some situations they are able to waive penalties. In any case, you can always seek the assistance of a tax professional if you need help.
Make Sure to File Electronically
The best way to get your refund as fast as possible is to file electronically and use direct deposit. This option is much faster than waiting for a paper check to arrive by regular mail.
After filing, you can use the online tool Where’s My Refund to stay up to date about the status of your refund.
A Couple of Exceptions
Some people may have more time to file their tax returns. There are two main categories of taxpayers who get extra time:
- Members of the military serving in a combat zone get more time to file and pay their taxes (at least 180 days after they leave the combat zone)
- People who have an extension and live in (or are affected by) a federally-declared disaster may also be allowed more time to file
Contact the Experts at Meadville Tax Service
The COVID-19 outbreak has had a noticeable impact on the world of taxes. Many deductions and benefits are available, but there are also many other deadlines and steps to keep in mind, just like the one we reviewed today.
Stay on top of your taxes in this complex landscape. Seek assistance from the experts at Meadville Tax Service and rest easy knowing that a dependable group of tax professionals has your back.
We are located in Meadville, Pennsylvania. Contact us today by email, telephone (814-333-2488), or through our social media accounts on Facebook, Twitter, and LinkedIn to learn more about our services.
