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The deadline to file your taxes in 2020 is Wednesday, April 15

Dec 11, 2019, 03:35 IST
Justin Sullivan/Getty ImagesTaxes are due on April 15, 2020.

Taxes for income earned in 2019 will be due on Wednesday, April 15, 2020.

Last year, residents of Maine and Massachusetts had an extra two days to file their taxes because of holidays.

Taxpayers with complicated returns, or those who are just chronic procrastinators, who want to file an extension with the IRS must do so by April 15 or face interest charges and penalties.

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Filing an extension is free and there are different options for individuals and businesses. Keep in mind that if you file for an extension, you're also delaying your refund.

How to file your tax return

If your income was less than $69,000 in 2019, you can file your federal tax return for free; the IRS lists 12 different tax preparers on its Free File Lookup tool, including H&R Block and TurboTax. Some companies also offer free tax filing for state returns, while others charge a fee.

In order to submit your tax return, you first need a W-2 form, or Wage and Tax Statement, from every employer you had during 2019. If you're a freelancer, you'll need 1099 forms. Employers must file and postmark these forms on or before January 31, so you should have everything you need to file your taxes by early February.

The IRS recommends electronically filing and requesting direct deposit for your refund. You'll typically get your tax refund within three weeks, rather than the standard six weeks, and it's safer than getting a check in the mail.

Disclosure: This post is brought to you by the Personal Finance Insider team. We occasionally highlight financial products and services that can help you make smarter decisions with your money. We do not give investment advice or encourage you to adopt a certain investment strategy. What you decide to do with your money is up to you. If you take action based on one of our recommendations, we get a small share of the revenue from our commerce partners. This does not influence whether we feature a financial product or service. We operate independently from our advertising sales team.

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