Tax day was pushed back to July 15, 2020 to help those affected by the coronavirus. That date is coming up in less than a month, so now is the time to finish up your return and either get your return or pay any owed taxes.
The number of households who have filed their tax returns is down 6% year over year, indicating that many families are waiting until the last minute.
An extension until October 15th can be requested, however, taxes owed will still need to be paid by July 15th.
Other deadlines include making yearly contributions to Individual Retirement Accounts and Health Savings Accounts, which have to be made by July 15th.
“Taxpayers should also pay close attention to what’s going on at the state level. While most states have pushed their filing deadlines to July 15, not all of them have.”