Most taxpayers automatically have their taxes withheld from their paychecks and submitted to the IRS by their employer. The federal tax filing deadline postponement to May 17, , only applies to individual federal income returns and tax including tax on self-employment income payments otherwise due April 15, , not state tax payments or deposits or payments of any other type of federal tax.
Taxpayers also will need to file income tax returns in 42 states plus the District of Columbia. State filing and payment deadlines vary and are not always the same as the federal filing deadline.
The IRS urges taxpayers to check with their state tax agencies for those details. These states have until June 15, , to file various individual and business tax returns and make tax payments. This extension to May 17 does not affect the June deadline. For more information about this disaster relief, visit the disaster relief page on IRS. More In News. If you've received your third stimulus check you may be due a plus-up payment , too, but only if the IRS has your tax return.
If the IRS based your payment on your tax return but your federal tax return shows you qualify for more money for that third payment, the IRS will send you the difference as a separate plus-up. Your federal tax returns this year are also how you'll recover any money the IRS owes you from the first two stimulus checks.
If you either didn't get a payment or got less than you were eligible to receive , you can claim that money on your federal tax forms as a rebate credit when you file this year. That goes for nonfilers, too -- those who aren't normally required to file a tax return. If you wait to file your taxes closer to a new, later due date, you're also waiting to receive your money , which will be bundled into your tax return.
The IRS uses information on your tax return , if it has it, to determine the amount you'd get in your third stimulus check. Specifically, the IRS looks at the AGI, or adjusted gross income , on your form to help figure out your payment by using a new stimulus check formula. But the tax agency will use your return if your taxes haven't been accepted by the time your payment is sent.
That could work in your favor if your income from was lower than your income from You won't have to return the money in most cases. However, if your tax return would bring you a larger third stimulus check , like if you have more dependents , you'll want to file as soon as possible, so the IRS processes your taxes before releasing your third stimulus check. Here's what people who don't normally file taxes should know. To speed up the refund process, e-file your tax return and select the direct deposit payment method.
That's the fastest way. Paper returns and checks slow things down considerably. If for some reason you couldn't file your federal tax return on time, it's easy to get an automatic extension to October 15, But you had to request the extension by May 17 to qualify.
Keep in mind, however, that an extension to file doesn't extend the time to pay your tax. If you didn't pay up by the May 17 deadline, you'll owe interest on the unpaid tax. You could also be hit with additional penalties for filing and paying after Tax Day. And don't forget about your state tax return.
Most states synch their income tax return deadline with the federal Tax Day — but there are a handful of states that have different deadlines. Plus, while most states adjusted their filing deadlines to May 17 or later, not all states did. Check with the state tax agency where you live to find out exactly when your state tax return is or was due.
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