How will COVID-19 (Coronavirus) Affect the Tax Filing Deadline?

Will the 2020 Federal Tax Filing Deadline be Extended due to Coronavirus?

The federal tax filing deadline was recently changed to July 15 for individual and business tax returns. Additional questions regarding tax extensions are addressed below:

Will tax refunds be delayed due to Coronavirus?

IRS Federal and state tax returns and refunds are being processed normally and have not been impacted by the spread of COVID-19. Moreover, filing online with Jackson Hewitt Tax Pro From Home provides the safety of an easy-to-use service complemented by Tax Pros from the comfort of your own home. E-Filing is the quickest and safest way to file your tax returns, so file now to access any refunds you may have pending.

What if I owe taxes and can’t pay due to the financial impacts of Coronavirus?

If you file your taxes and find that you owe, the Treasury Department and IRS have formally extended the federal tax payment due date to July 15, 2020. Remember, you still have the ability to work with the IRS to establish a manageable payment plan. Jackson Hewitt’s Tax Pros can help you apply for the best payment plan for your financial situation while filing this year’s tax return. For convenience, this can be done on the phone or an internet-connected device.

What do I do if I need more time to file my taxes in 2020?

In the event you need more time to file your taxes, Jackson Hewitt's Tax Pros can begin the filing process and request an automatic six-month extension to ensure you have the time to apply all credits, deductions, and locate missing paperwork. You must pay your taxes, or what you estimate your tax bill to be, by July 15 to avoid additional fees and penalties.

Which States Have Extended Tax Deadlines Due to COVID-19 (Coronavirus)?

On March 21, 2020, the Treasury Department and IRS issued a press release extending the tax filing season and payments deadline to July 15, 2020, regardless of the amount owed. However, states were not required to implement these extensions, resulting in each state pursuing its own policy. 

“Though the federal tax deadline was extended to July 15, many states maintained their original deadlines; meaning over a third of taxpayers won’t have extra time to file or pay state taxes though they may have assumed they would,” explained Mark Steber, Chief Tax Officer for Jackson Hewitt Tax Services.

Steber emphasized that the situation remained dynamic as Covid-19  presented different problems to each state, and ultimately each taxpayer remained responsible for following their states updated guidelines on when to file. “Taxpayers should examine their state revenue websites for additional information and remain vigilant as this situation continues to develop.”

The table below provides a breakdown of each state’s tax deadline as of March 23, 2020. Please note that only 43 states have income tax requirements with Alaska, Florida, Nevada, South Dakota, Texas, Washington, and Wyoming exempt.

For updated information on which deadline applies to your state, visit the IRS’ State Government Website. To speed up the process, E-file with Jackson Hewitt Tax Pro From Home and enjoy the safety of an easy-to-use service complemented by Tax Pros from the comfort of your own residence. Should you owe, Jackson Hewitt’s Tax Pros can help you apply for the best payment plan while completing your tax return.

What Happens Next?

Additional information on the government’s response to COVID-19 can be found at https://www.irs.gov/coronavirus. At present, IRS returns are being processed within normal timelines and as of March 6, more than 65 million returns were processed with 52 million filers receiving a refund of almost $3,000. If your refund is pending, now would be a wonderful time to have it in your possession and not with the government. We’re here to help. Give Jackson Hewitt a call and see how we’re still working hard for the hardest working.