Filing a tax return
Taxpayers who earned $69,000 or less in 2019 can file using free brand-name tax software with IRS Free File. People who earned more and want to do their own taxes can use Free File Fillable Forms. These are the electronic version of IRS paper forms. Either way, everyone has a free electronic filing option.

The deadlines to file and pay 2019 federal income taxes are postponed to July 15, 2020. If they need more time to file taxpayers can use IRS Free File through July 15 to electronically request an automatic extention to file until Thursday, October. 15. Taxpayers should remember that an extension of time to file is not an extension of time to pay. Penalties and interest may apply to taxes not paid by July 15.

Taxpayers can choose to get an extension by paying all or part of their estimated income tax due and indicate that the payment is for an extension using Direct Pay, the Electronic Federal Tax Payment System, or a credit or debit card. This way they won’t have to file a separate extension form and will receive a confirmation number for their records. Using a credit or debit card does incur additional charges from the  card company. IRS does not absorb those costs.

Pay taxes online
Taxpayers can file now and schedule their federal tax payments up to the July 15 due date. They can pay online, by phone or with their mobile device and the IRS2Goapp. Electronic payment options are the optimal way to make a tax payment to support social distancing and speed the processing of payments. This includes IRS Direct Pay, electronic funds withdrawal, and payment by debit or credit card.

Pederson Tax Services