As a result of the COVID-19 virus and stay-at-home orders across the nation, the federal tax filing date has been extended to July 15, 2020. The State of Illinois also extended its deadline to July 15.
Details & Dates
- The federal filing date is extended to July 15, 2020. If you have an amount due, this is also extended to July 15th.
- If you have an estimated tax payment due April 15th this has been extended to July 15th. At this time the June 15 payment is still due June 15th and has NOT been extended.
- There is NO extension for payroll taxes due by employers.
- You do not have to be affected by COVID-19 to qualify for these extensions. If you are required to file a return or make a payment by April 15th you qualify for the extension.
- Business entities do not have extensions to file or pay.
- If you cannot file by July 15th an extension to file can be sent to the IRS for October 15. Payment is still due on July 15th, but the actual filing can be done in October.
- If you have already filed your tax return but have not paid, you can delay payment until July 15th with no penalty or interest.
- You can contribute to an IRA account until July 15th.
- Contributions to a health savings account are extended to July 15th.
- Illinois will follow the federal guidelines for extending the filing and payment dates to July 15th. The estimated tax payments for 2020 are still due on April 15th and June 15th.
For more information, contact David Mills, CPA, LLC.