APRIL 15TH TO JULY 15TH TO ?

[Lee B]

Multiple news sources are reporting that yesterday in an interview, the Treasury Secretary said, he may consider moving the April 15th Filing/Payment Date

from July 15th to September 15th?  It sounds like he is floating a trial balloon to see what kind of response he gets.

If they are going to make another change like this, they also need to move back the 3rd and 4th quarter estimated payment due dates,

otherwise the combined payments that Schedule C Filers will have due on September 15th will be extremely difficult to handle.

[Abby Normal]

Hey, the fewer extensions I need to do, the better!

[JohnH]

I've been telling my estimated tax filers to just file as usual (Apr 15, Jun 15, Sep 15, Jan 15), using something close to last year's figures unless there's a known reason to increase or decrease. We can make adjustments (if any) whenever the 2019 return is completed.  Not much else to do given the current situation.

 

[Randall]

My concern with another extension is whether the states and locals will conform.

 

[Abby Normal]

1 hour ago, Randall said:

My concern with another extension is whether the states and locals will conform.

 

None of the states I deal with have a late filing penalty, just late paying penalty. So if states don't conform, that's just leverage to get the records in for those who usually owe.

[Randall]

My state (KY) and locals conformed to the July 15 extension for filing and paying penalties.  So if the Fed has another extension and the locals don't conform, I'll have to do what I previously did for the April 15 due date.  That is, get the local extensions with a payment by July 15.  But still, I have fewer of them since I've gotten a number of them done (or will) by July 15.