With COVID-19 affecting many individuals and businesses, the federal, state, and city government is offering relief for taxpayers by extending deadlines and waiving penalties and fees for late payments. However, if you can still file by the initial deadline, we highly encourage you to do so.
As of March 26, 2020, here are the current extension deadlines for certain taxes:
2019 Federal Tax Returns: Extended until July 15, 2020
The IRS and Treasury Department has extended the filing and federal tax payment deadline from April 15 to July 15. This applies to all individuals and businesses regardless of amount owed and you do not need to file any additional forms for this extension. For businesses who need additional time to file beyond July 15, file a Form 7004.
This extended deadline also applies to quarterly estimated tax payments for tax year 2020 that are due on April 15, 2020.
Washington State Taxes: Extended upon request
The Department of Revenue is taking measures to provide relief for businesses affected by COVID-19. You may request an extension on paying your monthly, quarterly, or annual return that are due and have not already been paid during the state of emergency (February 29, 2020 until further notice). Even if you are currently unable to pay now, the DOR still asks that you file on time.
The extension period depends on your filing frequency:
Monthly filers (February and March): 60 days
Quarterly filers (Q1): June 30, 2020
Annual filers (2019): June 15, 2020
You can request extensions for the following taxes:
Business and occupation tax
Real estate excise tax assessments
Leasehold excise tax
Forest tax
And other taxes administered by the DOR
The DOR also has the authority to waive interest, BLS delinquency fees for late renewals, and late non-profit applications and renewals for exempt property tax through April 17, 2020.
If you would like to request relief, send a secure email using your My DOR account or reach the DOR Monday through Friday 8 a.m. to 5 p.m. at 360-705-6705.
First and Second Quarter City of Bellingham B&O Tax: Extended until October 31, 2020
Mayor Seth Fleetwood has signed an order to provide relief for Bellingham residents and businesses that have been affected by COVID-19. The City of Bellingham has implemented the following economic relief measures:
Quarterly filers can defer their first and second quarter B&O tax returns and payments until October 31, 2020
The City of Bellingham will waive interest and late penalty fees on utility bills, extend payment plans, and suspend water shutoffs for customers
Small businesses and non-profits who lease City properties and have been affected financially by COVID-19 may have April and May rent waived
Due to the uncertainty of the situation, we encourage you to check the deadlines with the filing agency on a regular basis in case any changes have been made. As new information is being released daily, all of us at Summit Bookkeeping are making it a top priority to staying informed so that we can help our clients and community. For other small business resources, visit our COVID-19 Resource page.