Assemblyman Doug Smith (5th District) today reminded citizens that despite the toll COVID-19 has continued to take on our daily lives, per a decision made by the Treasury Department, state and federal taxes are to be filed no later than July 15. The original tax deadline day was pushed back several months to help accommodate citizens having to readjust personal finances for a post-COVID world.
The economic toll on the people has been drastic in the wake of this virus, and were grateful the Treasury Department didnt leave people waiting in the dark during this time, Smith said. Despite the fact that the deadline was pushed back, however, the handling of this issue wasnt perfect. From delays in relief checks from the federal government to the inadequate response of the state in supporting local financial needs, this problem was exacerbated when it didnt need to be.
If issues still arise with filing taxes by July 15, the Treasury Department is allowing for a further pushback date to October 15. However, they advise that the earlier tax forms can be submitted, the better. In addition, the October 15 due date is not a forgiveness date in total, as citizens would still have to pay what they owe by July 15 to avoid interest and penalties. To ensure that your extension is recognized, taxpayers will need to file a form requesting an extension with the IRS and NYS Taxation and Finance Department.