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brooklynite

(93,871 posts)
Wed Apr 29, 2020, 07:11 PM Apr 2020

Status of Tax Filing Requirements

In response to Coronavirus, the Treasury, IRS, federal and state governments have announced changes to the 2019 tax filing deadline.

The federal tax deadline has been extended to July 15, 2020. While a majority of states’ filing deadlines have been extended to conform with the federal tax deadline, not all fall on July 15th.

Note, taxpayers who are getting a refund are encouraged to file their taxes now to get their money, especially if they’re eligible to receive a stimulus check.

If you’re filing state tax returns for Hawaii, Idaho, Iowa, Mississippi or Virginia, the deadline to file your state income tax return differs from the new, extended federal tax deadline.

Additionally, there are two states, North Carolina and Virginia, that will still charge interest on tax payments that are not paid by new state deadlines despite federal tax filing and payment deadlines. This means that if you’re filing income taxes in those states and you owe, interest will still accrue on your tax payments if you don’t pay by the state filing deadlines.

Here’s what you need to know about these states’ specific tax filing and payment deadlines — if your state isn’t listed below, check here for the latest information on deadlines and guidance for every state.

Hawaii

Hawaii’s due date for filing 2019 State income tax returns has been postponed to July 20, 2020.

For ease, you can prepare your federal and state returns simultaneously, as you would with a standard deadline.

Idaho

Idaho’s due date for filing 2019 State income tax returns has only been postponed to June 15, 2020.

As Idaho’s state tax return deadline is prior to the federal tax return deadline, we recommend that you complete your federal tax return in tandem with your state tax return and complete the federal tax return earlier than the extended federal deadline of July 15, 2020, to avoid any penalties or interest and get your refunds when you need them most.

Iowa

Iowa’s due date for filing 2019 State income tax returns has been postponed to July 31, 2020.

For ease, you can prepare your federal and state returns simultaneously, as you would with a standard deadline.

Mississippi

Mississippi’s due date for filing 2019 State income tax returns has only been postponed to May 15, 2020.

As Mississippi’s state tax return deadline is prior to the federal tax return deadline, we recommend that you complete your federal tax return in tandem with your state tax return and complete the federal tax return earlier than the extended federal deadline of July 15, 2020, to get your refund as soon as possible.

New Hampshire

New Hampshire’s relief allows 98% of taxpayers to file and pay for tax year 2019 by June 15, 2020 without penalties or interest.

The New Hampshire Department of Revenue Administration will grant automatic relief to
Business Profits Tax (BPT), Business Enterprise Tax (BET) and Interest & Dividends Tax (I&D)
taxpayers in the form of payment relief and expansion of automatic filing extensions and
penalty safe harbors.

Relief is available for certain BPT, BET and I&D taxpayers who are impacted by the COVID-19
pandemic and unable to pay the amount due on April 15, 2020. Those qualifying taxpayers will
have until June 15 to remit payment without typical penalties and interest.

https://blog.turbotax.intuit.com/tax-news/what-is-my-state-tax-deadline-what-to-know-about-coronavirus-and-state-specific-tax-deadlines-46778/?username=&cid=em_44866_3205_002_2019___

Taxpayers who qualify for this specific relief are Business Tax taxpayers who owed $50,000 or
less in taxes (total BPT and BET tax liability) for tax year 2018 and I&D taxpayers who owed
$10,000 or less in taxes for tax year 2018.

North Carolina

North Carolina’s due date for filing 2019 State income tax returns has been extended to align with the extended federal deadline of July 15, 2020, however, interest will still accrue on any tax payments received after April 15, 2020, until the date of payment.

Therefore, taxpayers are encouraged to file and pay their taxes as soon as possible to avoid accruing interest on tax payments.

Virginia

Virginia announced that their tax payment deadline has been extended to June 1, 2020. The filing deadline remains May 1, 2020 for individuals.

Virginia will waive the accrual of interest on certain income tax payments that were originally due during the period from April 1, 2020 to June 1, 2020.This waiver applies to individual, corporate, and fiduciary income tax payments.

It also applies to extension payments as well as any estimated payments that were due during this period. No penalties or interest will be incurred on these payments if made in full by June 1, 2020.

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Status of Tax Filing Requirements (Original Post) brooklynite Apr 2020 OP
Excellent info. Thanks! Hermit-The-Prog Apr 2020 #1
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