{"id":10220,"date":"2020-07-08T05:00:00","date_gmt":"2020-07-08T05:00:00","guid":{"rendered":"https:\/\/amazingproperty.com.ng\/blog\/july-15-deadline-nears-for-2019-tax-returns\/"},"modified":"2020-07-08T21:31:41","modified_gmt":"2020-07-08T21:31:41","slug":"july-15-deadline-nears-for-2019-tax-returns","status":"publish","type":"post","link":"https:\/\/amazingproperty.com.ng\/blog\/july-15-deadline-nears-for-2019-tax-returns\/","title":{"rendered":"July 15 Deadline Nears for 2019 Tax Returns"},"content":{"rendered":"

<\/p>\n

\n

Tax Returns<\/strong><\/p>\n

The July 15 tax filing extension deadline for 2019 returns is quickly approaching. The IRS had postponed the original tax filing deadline from April 15 due to the COVID-19 pandemic. But it\u2019s standing firm on the July 15 deadline, and you\u2019ll need to take action or risk facing a penalty. July 15 is also the deadline for making first- and second-quarter estimated payments for 2020. You\u2019re required to make estimated payments if you expect to owe the IRS more than $1,000 when you file your 2020 return.<\/p>\n

Here are some tips to preparing your taxes ahead of the deadline:<\/p>\n

Collect your documents.<\/strong> Double-check that you aren\u2019t missing anything. Use your prior tax returns as a guideline. You should be able to access most tax documents, such as bank and mortgage<\/a> tax statements, online.<\/p>\n

Consider an extension.\u00a0<\/strong>If you\u2019re unable to meet the deadline, you can file for an extension to gain extra time\u2014until Oct. 15. The form for filing an extension is at IRS.gov.<\/p>\n

Take advantage of IRA and HSA extensions.\u00a0<\/strong>You have until July 15 to contribute to your IRA or health savings accounts for the 2019 tax year. The IRS extended that deadline from the original April 15 date. By putting more money into your IRA before July 15, you may be able to lessen your tax burden. For 2019 taxes, taxpayers under 50 can contribute up to $6,000; those over 50 can contribute up to $7,000.<\/p>\n

Check deadlines for your pass-through entities.\u00a0<\/strong>An extension of July 15\u2014in most cases\u2014was also granted for filing for pass-through entities. For example, check extensions and requirements\u00a0if you have a sole proprietorship, single-member LLC treated as sole proprietorships for tax purposes, partnerships, multimember LLC treated as partnerships for tax purposes, and S corporations.<\/p>\n

Set up a payment plan, if needed. <\/strong>The IRS is offering both shorter (within 120 days) and longer payment plans. The long-term plan, which carries some setup fees, is only for those who are unable to pay down their debt within 121 days. \u201cThe IRS understands that those affected by the coronavirus may not be able to pay their balances in full by July 15, but we have many payment options to help taxpayers,\u201d IRS Commissioner Chuck Rettig said in a recent statement. \u201cThese easy-to-use payment options are available on IRS.gov, and most can be done automatically without reaching out to an IRS representative.\u201d<\/p>\n

Check your state deadlines.<\/strong>\u00a0Some states have initiated different deadlines. USA Today has compiled a list of those tax deadline extensions, broken out by state.<\/p>\n

As of June 12, the IRS reported it had received 136.5 million individual income tax returns, down from more than 144 million a year ago. About 93 million filers have received refunds, averaging $2,763, the IRS notes.<\/p>\n<\/div>\n

Realtors <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Tax Returns The July 15 tax filing extension deadline for 2019 returns is quickly approaching. The … July 15 Deadline Nears for 2019 Tax Returns<\/span>Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"jetpack_seo_schema_type":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[4],"tags":[4751,3048,1263,408,41,1048,818,479,1047,1262],"class_list":["post-10220","post","type-post","status-publish","format-standard","hentry","category-opportunities-in-new-markets","tag-amazing","tag-documents","tag-irs","tag-mortgage","tag-property","tag-property-tax","tag-real","tag-realtor","tag-tax-returns","tag-taxes"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":7621,"url":"https:\/\/amazingproperty.com.ng\/blog\/tax-bill-causing-a-year-end-frenzy-to-pre-pay-2018-property-taxes\/","url_meta":{"origin":10220,"position":0},"title":"Tax Bill Causing A Year-End Frenzy To Pre-Pay 2018 Property Taxes","author":"Amazing Property","date":"December 27, 2017","format":false,"excerpt":"The newly passed Republican tax bill is creating end-of-year confusion and anxiety for homeowners. With just a few days left in 2017, many are in a frenzy trying to figure out how they can pay some of their 2018 property taxes now to save money once the bill goes into\u2026","rel":"","context":"In "Opportunities In New Markets"","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"183fcecac74680236fbbd3fd603c2b63 S.jpg","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/12\/183fcecac74680236fbbd3fd603c2b63_S.jpg?fit=424%2C224&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":712,"url":"https:\/\/amazingproperty.com.ng\/blog\/easy-mistakes-denver-homeowners-make-on-their-taxes\/","url_meta":{"origin":10220,"position":1},"title":"Taxes : Easy Mistakes Denver Homeowners Make on Their Taxes","author":"Amazing Property","date":"February 4, 2017","format":false,"excerpt":"Mistakes Denver Homeowners Make on Their Taxes . The month of April is coming up fast and\u00a0the good news is you still have time to find all of those real estate-related deductions. As you calculate your tax returns, be careful not to commit any of these nine home-related tax mistakes,\u2026","rel":"","context":"In "Property owner"","block_context":{"text":"Property owner","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/property-owner\/"},"img":{"alt_text":"Taxes","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/02\/Screen-Shot-2017-02-02-at-2.06.30-PM.jpg?fit=614%2C375&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/02\/Screen-Shot-2017-02-02-at-2.06.30-PM.jpg?fit=614%2C375&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/02\/Screen-Shot-2017-02-02-at-2.06.30-PM.jpg?fit=614%2C375&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":3493,"url":"https:\/\/amazingproperty.com.ng\/blog\/anti-trump-protesters-across-us-press-him-on-tax-returns\/","url_meta":{"origin":10220,"position":2},"title":"Anti-Trump protesters across US press him on tax returns","author":"Amazing Property","date":"April 19, 2017","format":false,"excerpt":"\u00a0 Thousands of protesters gathered Saturday in cities across the United States to pressure President Donald Trump to release his tax returns, a move of transparency he has repeatedly refused. US President, Donald Trump The demonstrations were timed to coincide with the traditional April 15 deadline for annual tax filings,\u2026","rel":"","context":"In "Opportunities In New Markets"","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/d19lga30codh7.cloudfront.net\/wp-content\/plugins\/lazy-load\/images\/1x1.trans.gif?resize=350%2C200","width":350,"height":200},"classes":[]},{"id":3533,"url":"https:\/\/amazingproperty.com.ng\/blog\/how-owning-a-home-pays-off-at-tax-time\/","url_meta":{"origin":10220,"position":3},"title":"How Owning a Home Pays Off at Tax Time","author":"Amazing Property","date":"April 18, 2017","format":false,"excerpt":"Homeownership-related tax deductions can prove advantageous in lowering your tax bill. HouseLogic lists some of the ways homeownership helps at tax time: Get Your Taxes in Order Webcast: Tax Tips Home Office Safe Harbor, Other Tax Changes\u00a0 A Year-End Meeting With a Tax Advisor Can Yield Bid Dividends\u00a0 Take Control\u2026","rel":"","context":"In "Opportunities In New Markets"","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":5076,"url":"https:\/\/amazingproperty.com.ng\/blog\/real-estate-is-lucrative-for-canadas-taxman\/","url_meta":{"origin":10220,"position":4},"title":"Real Estate Is Lucrative For Canada's Taxman","author":"Amazing Property","date":"June 26, 2017","format":false,"excerpt":"The Canada Revenue Agency (CRA) continues to follow through on the crackdown it announced last year on people who fail to report income from real estate transactions.\r \r The agency says that from April 2015 to March 2017, real estate transaction audits found $329.4 million in assessed income that had\u2026","rel":"","context":"In "Opportunities In New Markets"","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/06\/f103e52d4b9491c9efac7d86b991a9bd_M.jpg?fit=300%2C200&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":125553,"url":"https:\/\/amazingproperty.com.ng\/blog\/tax-implications-of-real-estate-financing\/","url_meta":{"origin":10220,"position":5},"title":"Tax Implications of Real Estate Financing","author":"Amazing Property","date":"July 18, 2023","format":false,"excerpt":"Tax Implications: A structured understanding of this subject is integral to making sound real estate investments. Decoding the labyrinth of taxes associated with real estate, especially when it comes to financing, can leave one bewildered. However, a structured understanding of this subject is integral to making sound real estate investments\u2026","rel":"","context":"In "Financing"","block_context":{"text":"Financing","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/financing\/"},"img":{"alt_text":"Tax Implications","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2023\/07\/Tax-Implications.jpg?fit=397%2C261&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/posts\/10220","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/comments?post=10220"}],"version-history":[{"count":0,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/posts\/10220\/revisions"}],"wp:attachment":[{"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/media?parent=10220"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/categories?post=10220"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/tags?post=10220"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}