FEDERAL & STATE TAX UPDATES
WHEN ARE MY TAXES DUE???
The federal government has extended the time to file and pay your 2019 taxes to 7/15/20. First and 2nd quarter estimated payments are also due 7/15/20.
BUT WHAT ABOUT THE STATES???
Each state has their own rules and they may or may not comply with the federal government. My accounting practice is located in Northern Virginia and we service clients all over the country and around the world. We prepare many tax returns for clients in Virginia, Maryland and Washington D.C. and their tax filing and payment dates are all quite different.
Virginia was one of the only states in the country that did not extend the tax filing deadline. Tax returns need to be filed by 5/1/20. You can wait until 6/1/20 to pay the tax, but if you do so, Virginia will assess interest charges for not paying by 5/1/20. If you make quarterly tax payments for tax year 2020, the 1st quarter is due 5/1/20 and the 2nd quarter is due 6/1/20.
Washington DC has extended the tax filing and payment deadline to 7/15/20 for 2019 tax returns but they have not adjusted the quarterly filing dates. 1st Q 2020 is due 4/15 and 2nd Q 2020 is due 6/15.
Maryland is the same as the federal government where the tax filing and due date is 7/15 and the 1st and 2nd Q payments are also 7/15.
If you file taxes in other states, I have attached a link that explains how the states are handling extensions and quarterly payments this year.