You Have an Extra 3 Months to File Your Taxes. Should You Wait?

Here are some questions and answers about filing tax returns this year:

I usually get free help filing my return at a volunteer tax center. Can I do that this year?

Many sites that use volunteers have closed for now, as part of the efforts to thwart the coronavirus. All sites sponsored by the I.R.S.’s Tax Counseling for the Elderly program are shut “for an undetermined period of time,” the agency said. Volunteer sites run by AARP Foundation Tax-Aide are suspended until further notice.

The I.R.S.’s Volunteer Income Tax Assistance program, which generally helps people with incomes of less than $56,000 a year as well as those who are disabled or speak limited English, has also closed many locations. But some remain open and may allow people to drop off tax documents for preparation and receive counseling over the phone. To find a site near you and to determine whether it’s open, the I.R.S. offers a locator tool online. Be sure to call first, to confirm that the center is accepting returns.

If you earn less than $69,000 a year, you can use the I.R.S. Free File program to file your return at no cost. The website includes options from commercial software programs, but be sure to use the link provided by the I.R.S. to make sure you get the free version. Anyone who doesn’t meet the income requirements can use the I.R.S.’s free “fillable forms,” which enable online preparation with limited guidance.

I’m self-employed. Does the extended July 15 deadline apply to payments for quarterly estimated tax payments?

Yes — with a caveat. The payment due April 15 can now be made July 15. But as of this week, the I.R.S. hadn’t extended the June 15 deadline for the second 2020 estimated tax payment. Accountants expect the agency to clarify that issue before the deadline, Ms. Hockenberry said.

Have states extended their tax filing deadlines as well?

Most, but not all, states have extended their tax filing deadlines to July 15 or later. The Tax Foundation, a nonprofit tax policy research group, is tracking the states’ actions on its website.

Article source: https://www.nytimes.com/2020/04/03/your-money/coronavirus-income-tax-deadline.html