OT-PSA- A sad reminder-the Income Tax deferral is closing in; July 15th-OT

lousubcap

For those who have been enjoying the delay-the piper gets paid next week.  If you are in the estimated tax game that delay goes away as well.  Better today than to totally ruin the weekend  

lkapigian

Sent my payment last week, hung on till the end 

Ozzie_Isaac

Wait, what?  I thought there was no tax, rent, utility, phone bills, etc that accrued during this time?  Stuff just resets to 0. I still have to pay these things?  When is my extension coming?  WTF.......I jest.

Luckily we have a bookkeeper and a CPA.  They just message me to say what they are paying in my stead.  Otherwise, I would be SOL, so many rules and date changes this year.  What a mess.

lousubcap

I'm still hanging...but know the level of pain to be endured 

fishlessman

I JUST OWE A LITTLE OVER 200 BUCKS    they aint getting it til the last second

Dondgc

Paid early. As soon as my return was done. Just wanted to get it over with. 

Ozzie_Isaac

I did request my checks be made out directly to President Trump though. 

caliking

Finished Pops’ taxes last night. Started ours this morning. There’s still plenty of time

Gulfcoastguy

I took care of it back the first week of February. I knew that I was due a decent return and didn’t want to extend my interest free loan to Uncle Sam.

Canugghead

Our filing deadline was extended to June 1, tax owing due September 1.  Pre pandemic deadline was end of April for both.

U_tarded

I just dropped My check in the post for the state and epayment to the feds, got to stare at the stimulus check for a couple of months before sending it back. 

kl8ton

I filed my return by mail (always have to) by the original due date and they still have my money! 

fishlessman

about 20 years ago the state sent me a refund for 1 dollar. too priceless to cash, it hangs on my fridge

alaskanassasin

I sent mine back off in February... should have held onto it and followed @billt01 stock tip.

lousubcap

My story is along the same vein as @fishlessman but involves a mortgage company. In 1996 I received a check for the sum total of 1 cent.  I wrote them a letter explaining how I was not gonna cash the check and suggested they at least follow IRS rules in rounding to the nearest dollar in their accounting practices.  Just imagine what Big Brother can do now!

Ozzie_Isaac

fishlessman said:

about 20 years ago the state sent me a refund for 1 dollar. too priceless to cash, it hangs on my fridge

Haha!  Their books never balanced and they are still carrying that $1.

JNDATHP

kl8ton said:

I filed my return by mail (always have to) by the original due date and they still have my money! 

• Topics in the News
• News Releases
• Multimedia Center
• Tax Relief in Disaster Situations
• Tax Reform
• Taxpayer First Act
• Tax Scams/Consumer Alerts
• The Tax Gap
• Fact Sheets
• IRS Tax Tips
• e-News Subscriptions
• IRS Guidance
• Media Contacts
• IRS Statements and Announcements

June 24, 2020

Interest on individual 2019 refunds reflected on returns filed by July 15, 2020 will generally be paid from April 15, 2020 until the date of the refund. Interest payments may be received separately from the refund. By law, the interest rate on both overpayment and underpayment of tax is adjusted quarterly. The interest rate for the second quarter, ending on June 30, 2020, is 5% per year, compounded daily. The interest rate for the third quarter, ending September 30, 2020, is 3% per year, compounded daily.