Personal Taxes

IRS confirms no additional personal tax submitting extensions can be attainable after July 15, Mitchell, Williams, Selig, Gates & Woodyard, PLLC

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In a press release yesterday afternoon, the IRS confirmed that the tax return and July 15 payment deadline will not be extended any further. (In a March press release, the IRS previously extended the filing period from April 15 to July 15.) However, automatic filing extensions are available through October 15 by filing Form 4868. You must request this extension by July 15th, the July 15th deadline and can do so online here.

Remember that extending the registration deadline does not extend the deadline for paying taxes due. Taxes are due by July 15th regardless of any extension of the registration period. If you are unable to pay your full tax amount by July 15th, pay as much as you can. By paying your taxes on time, you will avoid penalties and interest. The non-payment of the contractual penalty starts at 0.5% of the tax amount due per month and lasts up to 25% of the tax amount that is not paid from the due date of the tax return until the tax is paid in full. The interest for underpayments of taxes is currently 5% and is usually adjusted quarterly. You can pay your taxes owed directly to the IRS. The IRS offers a variety of payment options, from direct bank payments including wire transfers to checks, money orders, and debit and credit card options.

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