2019 “Initial” Filing Deadline

In this unique 2019 tax filing year, the “initial” filing and payment deadline is quickly approaching on July 15th. Except for the 2019 S-corporation and partnership initial filing deadline that remained on March 16th, as scheduled, all other filing and payment deadlines since then were automatically delayed until July 15th. The initial filing deadlines for 2019 individual, C-corporation and fiduciary income tax returns would normally have been on April 15th, but all were postponed until July 15th. The 2019 tax liability payment deadline was also pushed back to July 15th. Lastly, the 1st and 2nd quarterly 2020 estimated income tax payment due dates, which would normally have been on April 15th and June 15, are both on July 15th instead as well. Arizona has followed suit with the IRS in moving their filing and payment deadlines as well for this year.

With all these dates pushed back, the July 15th deadline is quite a busy one, indeed. For any 2019 income tax returns that are still not ready to file by this date, an extension can still be requested which would allow extra time to file the 2019 tax returns. Keep in mind that this extension does not allow more time to pay any 2019 tax that is due, however. Taxpayers should make an extension payment by the July 15th deadline if the tax return is not yet complete based on the best estimate of what tax will be due when the 2019 return is filed later. If successfully extended, the extended due date for individual and C-corporation returns would be October 15th, as usual. Any S-corporation and partnership returns that were successfully extended back in March would be due by September 15th, as usual.

The 3rd and 4th quarterly estimated income tax payments would be due on September 15th and January 15th (2021), as usual.

If you are a current client of Weech Financial and have not provided your documents and information for tax year 2019 yet, we will automatically file for an extension before the July 15th deadline. Please do provide your 2019 information as soon as possible, however, so that we can help you determine if a 2019 extension payment should be made by July 15th.

If you have any questions, please contact us.

Mark J Weech, CPA