The new due date of filing your 2019 individual income tax return is 7/15 (both Federal and California tax returns).
This is not an extension of tax filing, this is a new due date because this is also the due date of paying your 2019 tax liabilities due to the outbreak of COVID-19.
For example, you would have paid the tax due by 4/15/20 even you had filed an extension to 10/15/20 for your 2019 individual income tax returns.
With the change of the due date, you don’t need to file an extension nor pay for the 2019 tax dues until 7/15/20.
This is also a new due date for your 2019 HSA, traditional IRA, and ROTH-IRA.
How about your 2020 1st quarter of estimated tax payment? It will be changed to 7/15/20 as well.
Takeaways:
The new due date of 7/15/20 applies the following:
a. Your 2019 individual income tax return
b. Your 2019 tax dues
c. Your 2020 1st quarter of estimated tax payment
d. 2019 contributions to HSA, traditional IRA and ROTH IRA
e. All 2019 partnership, LLC, S-corporation and Corporation tax returns
Leave a Reply