Recent Tax Updates

Reminder: Filing Deadline is July 15

This is a reminder that the federal filing deadline for 2019 individual returns is Wednesday, July 15, 2020.

It is also the deadline for U.S. citizens and resident aliens who live and work abroad, as well as members of the military on duty outside the U.S. to file their 2019 federal individual returns.

For e-filed returns that are rejected on July 15, the return will be considered timely filed if it is retransmitted and accepted by July 20.

Also the federal 1st and 2nd estimated tax payments are due on July 15.

Both the filing deadline and the first two estimated tax payments were extended due to the Coronavirus pandemic

July 15 is also the deadline for the following:

  • Making a contribution to an IRA for tax year 2020.
  • To file an automatic extension (Form 4868) for individual federal returns to October 15.
    Remember the extension is for filing the return only. Any tax due must be paid by July 15 to avoid any penalty and interest.
  • Filing 2019 calendar year federal corporate tax returns (Form 1120)
  • Filing 2019 estate or trust income tax returns (Form 1041)
  • To file an automatic extension (Form 7004) for federal corporate and estate or trust returns to October 15.

For more information see the following on the IRS website:

Picture of Mark Castro, CPA

Mark Castro, CPA

Mark has been with CrossLink Professional Tax Solutions (CPTS) since 2008, but has been in the tax industry since 1990. As the government/tax industry liaison for CPTS, Mark has been very active in working with the IRS, States, and other tax industry members to help improve communications, promote standardization, and simplification of eFile systems. Mark has also been active with industry associations as a board member of the National Association of Computerized Processors (NACTP) and the Council of Electronic Revenue Communication Advancement (CERCA) for many years. These two associations work with the IRS and States to help solve key eFile and electronic tax system issues and work to improve the operations of the State and IRS eFile systems.
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Recent Tax Updates

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