Tax deadline is midnight Wednesday

July 14, 2020 Cranberry Living

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Although millions escaped Tax Day in mid-April, a rush to accountants has been on as of late with the new federal and state tax filing deadline set for midnight Wednesday.

The Internal Revenue Service estimated in April that it would receive more than 155 million tax returns, but it only received 142 million by July 3, the latest date for which data is available.

Last year, the average refund for filers was more than $2,700, more than twice the amount of the federal stimulus check to a single individual that Congress authorized in late March.

That amount could lend a lifeline to the more than 11,000 Butler County residents who remained unemployed in May, according to the most recent jobless data, especially as the additional $600 per week for individuals on unemployment compensation will expire at the end of July unless Congress takes action.

The IRS estimates that more than 90 percent of tax returns will be electronically filed, with the remainder physically mailed.

As usual, taxpayers have the option to request an extension to file their taxes.

To request extra time, taxpayers must submit a form by Wednesday — which requires an estimate of their tax liability. Then, the full return is due Oct. 15.

But if any money is owed, it must still be paid by July 15.

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