DALLAS (CBSDFW.COM) – April 15 is usually the deadline each year to file taxes but, like nearly everything else in 2020, that’s changed due to the coronavirus.
The IRS extended the tax deadline until July 15. Here’s what you need to know about the new deadline.
Do you have to file an extension to use the new July 15 deadline?
No. All taxpayers are automatically eligible.
Will your tax refund be delayed?
No. If you are due to get a refund and want to file now, the IRS is processing refunds as typical. However, you will want to file electronically. While the IRS continues to accept paper returns, currently it is not processing them.
What if you have already filed and set up automatic payment, will your payment be delayed?
No. If you’ve scheduled an electronic payment for April 15, you needed to cancel your payment by 11:59 p.m. April 13.
If you owe taxes, will the IRS deduct this from your stimulus check?
If you owe back taxes, is the IRS continuing to enforce collection?
No. For the next three months, all liens and levies have been put on hold. The IRS has also temporarily stopped sending delinquent accounts to private collections.
Will the IRS extend the deadline past July 15?
Maybe. Bob Probasco, the director of the tax clinic at Texas A&M University School of Law, said as the July 15 tax deadline nears millions of Americans will likely still not be in a position to file or pay taxes. He said under President Trump’s national emergency declaration, the IRS has the authority to delay tax returns up to a year.
“I think there is a significant possibility that the IRS will look at it,” Probasco said. “They are not going to extend it eight to nine months immediately but they are continuing to monitor it and I think there is a good chance that we will have additional relief.”