May 17 is the tax filing deadline. Here’s what you need to know.
Updated 9:29 AM;
Today 9:29 AM
May 17 is the tax filing deadline, extended because of the coronavirus pandemic. (AP Photo/Patrick Sison, File)AP
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Taxpayers should file both their federal and New Jersey tax returns Monday, but if you need more time, you can file for an extension.
You can do this online through the IRS’ Free File before midnight, or you can mail an extension to the IRS as long as it’s postmarked by May 17. To do this, you need to complete Form 4868.
But it’s important to know an extension to file is not an extension to pay your taxes. On the form, you have to estimate your tax liability for the 2020 tax year and make the payment. Payments made after May 17 could incur penalties.