It’s Time to Prepare and File your 2019 Tax returns

The Honeymoon is Over: Part Deux

If you have not filed your 2019 individual income or business tax returns yet or paid the tax liability, you have until July 15 to file those returns and pay the tax due without incurring penalties for late filing and for late paying.

As I discussed in a prior blog, there are 2 penalties that attach to the failure to file on time and the failure to pay the tax due. You want to file even though you cannot pay or fully pay the tax liability. Further, you can request a filing extension if submitted before July 15, but you cannot extend the time to pay the tax. The gov wants its money and there is no extension for paying the tax. If you cannot pay in full, you should pay as much of the tax as you can so you reduce the amount of the penalty and interest. You should arrange for a payment plan to pay off the tax liability as quickly as possible.

FILING TIP: If you mailed in a paper return to the IRS, do not mail a second return or a copy as it will really mess up any refund you might be expecting. The gov offices have been closed since March due to the virus and mail has been collected and stored until the workers are called back into their buildings. We expect that re-call to occur slowly in various locations in late June and into July. Taxpayers who e-filed expecting a refund should have received their refunds.

We represent clients at all administrative agency and appeal levels, the Arizona Tax Court, and the federal US Tax Court, and throughout Arizona: Phoenix, Glendale, Peoria, Scottsdale, Mesa, Tempe, Chandler, Queen Creek, Yuma, Casa Grande, Tucson, Sierra Vista, Bisbee, Flagstaff, Prescott, Payson, Coconino County, Yavapai County, Maricopa County, Pima County, Cochise County, Pinal County.