No More Delays- New York’s July 15th Tax Deadline Is Coming

As the coronavirus pandemic took off this spring, the federal government postponed the traditional April 15th filing deadline until July 15th. Guess what? July 15th is coming up fast.

US World News reminds you that taxpayers must file or seek an extension by the new deadline or face a penalty. The IRS is expecting about 150 million returns from individuals and as of last count, it had received almost 139 million.

According to New York State's Department of Taxation and Finance, If you are unable to file your 2019 return by July 15th, 2020, you can request an automatic extension to file your return.

Your return will be due on October 15, 2020 (September 30, 2020, for fiduciary returns), if the extension request is filed by July 15, 2020"

However, an extension to file does not mean added time to pay.

What You Need To Apply For An Extension

You can request an automatic extension of time to file here in New York with the following forms:

- Form IT-201, Resident Income Tax Return
- Form IT-203, Nonresident and Part-Year Resident Income Tax Return
- Form IT-203-GR, Group Return for Nonresident Partners, Note: Group agents must enter the special identification number assigned to the partnership (i.e., group ID 80081XXXX) in the Full Social Security number field.
- Form IT-204, Partnership Return
- Form IT-205, Fiduciary Income Tax Return"

You must file your extension request on or before the filing deadline of July 15th 2020.

July 15th Also Marks This Deadline

July 15th 2020 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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