July 15 Tax Payment Deadline Approaching
As the 2019 tax filing and payment deadline approaches, the IRS reminds taxpayers and businesses that 2019 income tax liabilities as well as postponed April 15 and June 15, 2020 estimated tax payments are due July 15, 2020. This postponement provided temporary tax relief in response to the COVID-19 pandemic.
Taxpayers who owe a 2019 income tax liability, as well as estimated tax for 2020, must make two separate payments on or by July 15, 2020: One for their 2019 income tax liability and one for their 2020 estimated tax payments. The two estimated tax payments can be combined into one single payment.
A list of forms due July 15 is on the Coronavirus Tax Relief: Filing and Payment Deadlines page. Electronic payment options are the optimal way to make a tax payment.
If you need more time to file after the July 15 deadline, or to file a form with a different deadline date, you may request a filing extension.
An extension to file is not an extension to pay taxes
Those who need more time to file beyond July 15, 2020, can request an extension to file. Taxpayers must request an extension to file by July 15. This gives them until October 15 to file their tax return. An extension to file is not an extension to pay. Taxes must be paid by July 15.
Jonathan Gauss serves as Tax and Accounting Partner. His client base ranges from individuals and small, closely-held businesses to publicly traded companies with assets in excess of $500 million. He is experienced in consulting and tax planning for corporations, partnerships, and LLCs, as well as advising clients on multi-state tax issues. He has experience in a variety of industries which include banking, oil & gas, telephone utilities, manufacturing, construction, and retail.
Mr. Gauss received a Bachelor of Science degree from the University of Central Oklahoma, Edmond, Oklahoma. He has been a Certified Public Accountant since 1994. He is a member of the OSCPA, the AICPA, the Oklahoma Bankers Association, the Independent Bankers Association of Texas, and the National Association of Certified Valuation Analysts.