Taxpayers requesting an extension have been reminded of the Oct. 15 due date by the IRS
Pay refunds by requesting direct deposit. File and make an electronic payment.
WASHINGTON – IRS
Today, the IRS sends a reminder to taxpayers who request an extension about the arrival of the Oct. 15 due date. Taxpayers are expected to finalize their tax returns on or before the Oct. 15 due date.
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Taxpayers can still make a request using the electronic option as well as the IRS Free File. Tax experts and taxpayers can employ social distancing and increase the speed of tax returns, payments, and refunds by using the electronic option.
Even though the deadline to file for most individuals is Oct. 15, some taxpayers that could have more time include:
Military officials or individuals in the combat zone are being offered about 180 days to file and make any tax return payment once they leave the combat zone.
Taxpayers residing in federally announced disaster regions with verified extensions. More information can be seen on IRS.gov.
However, taxpayers without any verified extensions and who are yet to file the 2019 tax return should file the return earlier and pay any outstanding taxes in order to avoid penalties.
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Use the direct deposit option when making refunds
The electronic option directly deposited in the bank or any other financial account is still the easiest and safest method for taxpayers to pay refunds. The direct deposit option can also be used by taxpayers to deposit a refund into a few accounts. This option is quicker than waiting for the arrival of a check via mail.
The Where is My Refund? Tool available on the IRS.gov website or mobile app can be accessed or downloaded for tracking the status of a refund once a filing has been made.
Schedule an electronic payment for paying federal tax
Taxpayers requesting an extension can file and schedule an electronic payment for their federal tax before the Oct. 15 deadline. This payment can be made online or through their IRS2Go app. However, important things federal taxpayers making electronic payments need to keep in mind are:
The best method for making tax payments is still the electronic option.
Payment can be made online after filing electronically through the tax software. Taxpayers using a tax Preparer should inform the tax Preparer that payment should be made using an electronic fund withdrawal option from an account in the bank.
Taxpayers can pay online for free using IRS Direct Pay from a savings or checking account and payment can be scheduled one year in advance.
Taxpayers are also allowed to make payments through the IRS payment processor equipped to handle the debit card, credit card, or digital wallet options for free.
The IRS2Go mobile application also offers a mobile-enabled payment alternative that can handle Direct Pay and other mobile Payment Providers.
Taxpayers can apply in the Electronic Federal Tax Payment System where they can make online payments or through the EFTPS Voice Response System.
Taxpayers can securely access their federal tax account information at IRS.gov/account. They can view outstanding amounts, tax records, payment history, and other vital tax return information for the current tax return information when filed originally.
Economic impact Payments Option for Non-Filers – Payment must be made before Oct. 15
Even though over 160 million Americans have received their Economic Impact Payments, individuals with very little or no source of income and ineligible to file for a tax return might be qualified for an Economic Impact Payment.
The IRS.gov website or Non-Filers tool is available in English and Spanish and is more beneficial for married couples with income below $24,400 and singles with income below $12,200. This is also beneficial for individuals and couples who don’t have a home. This information must be provided on or before Oct. 15 to receive a payment before the end of the year.
Individuals without a hob or income can also be eligible for payment. However, individuals with low or moderate-income that qualify for special tax benefits like Child Tax Credit or Earned Income Tax Credit won’t be able to use this tool. These individuals are required to file a standard tax return without delay. Their tax return information will be used by the IRS to determine if they qualify for any EIP.