Apple Magazine - USA - Issue 454 (2020-07-10)

(Antfer) #1

I DON’T WANT TO GO TO ANYWHERE.
CAN I DO THIS ONLINE?


Yes, you can file or pay your taxes online. The
IRS urges taxpayers to use electronic options
to support social distancing and speed the
processing of returns, refunds or payments.
The agency is still working its way through a
backlog of mail that built up during its closure in
response to the pandemic.


Accountants and tax preparation services say
they have a variety of means to help people
prepare their taxes without meeting face to face.


WHAT ABOUT ESTIMATED TAXES?


Taxpayers who make estimated quarterly
tax payments have until July 15 to make the
payments for the first and second quarter.
Those were originally due on April 15 and
June 15 respectively.


WHAT ELSE?


There are a host of other tax deadlines linked
to July 15. Check out the IRS website or reach
out to a tax professional for answers to your
specific question.


One worth noting is that July 15 is also the
deadline to claim a refund for 2016 tax returns.
An estimated $1.5 billion refunds for 2016 are
sitting unclaimed because people failed to
file tax returns. The law provides a three-year
window of opportunity to claim a refund. But if
taxpayers do not file a return within that time,
the money becomes property of the Treasury.
There is no penalty to file a later return if a
refund is due.

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