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Wednesday is Tax Filing Deadline: Last Minute Tips

Published: Jul. 14, 2020 at 10:06 AM MDT
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COLORADO SPRINGS, Colo. (KKTV) - Wednesday is the 2019 tax filing deadline. This comes after the Internal Revenue Service extended the deadline 3 months past the normal deadline of April 15th because of pandemic setbacks.

If you haven’t already done your paperwork, a local expert says you’ll likely be best off filing an extension. If you owe, you still need to pay by the deadline.

“The extension is not for the money. It’s only for the paperwork,” says enrolled agent Kathy Bylkas. She says people need to know that interest and penalties for late filings begin as normal after July 15th. “If they’re going to owe, they have to pay it by July 15th.”

Bylkas adds, this is a busier than normal tax season. The requirement to complete 2018′s taxes to receive a stimulus check has prompted a wave of clients wanting to get last year’s returns done while also filing for 2019.

If you’re confused about what to do regarding the stimulus check, that money is not taxed. It will not be taxed when filing next year for 2020.

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