Why It’s Important to File your 2019 Tax Return ASAP

Financial Tips, Tax Extension Tax day filing deadline pushed back to July 15 marked on calendar.

At Intuit, proud maker of TurboTax, QuickBooks, and Mint, we believe that everyone deserves the opportunity to prosper. We’re dedicated to providing the tools, skills, and insights that empower people around the world to take control of their financial lives.

We know these are challenging times, and that there has been a lot of news out there regarding the coronavirus (COVID-19). Rest assured, we have your back with updates to any changes in tax filing deadlines, as well as stimulus check payments.

The federal tax deadline has been extended to July 15, but that doesn’t mean you should wait to file. If you’re owed a refund, you should file as soon as possible to get it faster. 

Whether you’re a small business owner, a taxpayer, or just someone wanting to maintain control of your financial life, Intuit has tools to help you confidently file your taxes. If you have questions, we are here to help.

Here are a few answers to your burning tax questions:

Is the Tax Deadline Delayed?

In response to coronavirus, the Treasury, IRS, and federal government have announced several changes to the tax filing season and coronavirus relief and stimulus packages. Here is everything you need to know.

How Does Coronavirus Relief and the Tax Deadline Extension Affect My Tax Payments?

Extension of the federal tax filing deadline to July 15, 2020 also means extensions to payment. The Treasury and IRS also recently announced that taxpayers can defer tax year 2019 federal income tax payments due on April 15, 2020, to July 15, 2020, without penalties and interest, regardless of the amount owed. This deferment also applies to tax year 2020 first and second quarter estimated tax payment previously due on April 15 and June 15.

Deferment of federal tax payments means that if you owe money on your federal taxes, you will get more time to pay what you owe.

What is My State Tax Deadline?

While a majority of states’ filing deadlines have been extended to conform with the federal tax deadline, not all fall on July 15th.

Hawaii, Idaho, Iowa, Mississippi, and Virginia have different tax filing and payment deadlines. Additionally, there are two states, North Carolina and Virginia, that will still charge interest on tax payments that are not paid by the original deadline despite extending their tax filing and payment deadlines.

Please note that taxpayers who are getting a refund are encouraged to file their taxes now to get their money, especially if they’re eligible to receive a stimulus check. You can be confident that we’re ready to help you stay informed and file now. 

Get more financial guidance at intuit.com/financial-tips.