The Internal Revenue Service is reminding taxpayers who haven’t yet filed their 2019 returns that this year’s July 15 deadline is drawing near.
At the outset of the COVID-19 pandemic in March, the government extended this year’s filing deadline by three months, giving all taxpayers, including individuals, trusts, estates, corporations and other non-corporate filers, as well as those who pay self-employment tax, more time to file and pay without penalties or interest.
The IRS gives taxpayers multiple ways to file and pay, including its own “Free File” options available on its official website at https://www.irs.gov.
In general, all non-dependent adults under the age of 65 earning more than $12,000 in 2019 must file a federal income tax return. However, since living and work circumstances differ greatly from person to person, those who have questions about their filing status can fill out an online worksheet at https://www.irs.gov/help/ita/do-i-need-to-file-a-tax-return. Non-filers can also enter their payment information with the IRS on the main site.
Taxpayers can file an extension until Oct. 15 by using Form 4869, which is also available on the site. However, the IRS notes that the extension applies to filing — not payment. That means extension filers should be prepared to estimate and pay at least a portion of their tax bill by July 15. Extension filers will have to pay interest after July 15 on any amount due.
Reasons for requesting an extension can vary, from unanticipated, life-altering events all the way down to a simple lack of organization. Taxpayers don’t have to explain their reasons for filing an extension, and IRS officials won’t ask, unless the extension is denied, according to the form.
Businesses that need an extension beyond July 15 should file Form 7004.
Don’t forget state taxes
Taxpayers should also be sure to file state income taxes if they haven’t already done so. Many states, like Missouri, followed the federal government’s lead and extended their income-tax filing deadlines to July 15 — but not all.
A directory of all 50 state revenue agencies is available at https://www.taxadmin.org/state-tax-agencies. Seven states, including Texas, Florida, Alaska, Nevada, South Dakota, Washington and Wyoming, do not have an income tax and, therefore, require no filing.
The Missouri Department of Revenue has information about state income tax filing and business taxes on its site at https://dor.mo.gov.