I heard the news today, oh boy, tax filing deadlines have been extended. (With a tip of the hat to the Beatles there.)
These are hard times.
COVID-19 has disrupted the lives of so many people.
Businesses have closed down, many people are it of work, and the investment market has dropped a skosh (or two).
The toll this will take on the health and economy of the nation have yet to be seen.
Despite all of this, there are still stories of good.
People are social distancing to protect others and brave healthcare workers are serving the sick and vulnerable.
According to a recent Washington Post article titled “Tax filing deadline moved to July 15, the latest measure to battle coronavirus downturn,” even the IRS is doing its part.
The tax filing and payment deadline has been extended.
For 2020, April 15 will not be “Tax Day.”
Instead, the IRS has rescheduled this deadline to July 15.
This means you will have three more months to get make your payments and file your return.
For many, this is a true blessing.
Tax filing was the least of your priorities as you take care of your loved ones, try to make ends meet financially, and sanitize your space to remain healthy.
How does this impact those expecting a refund?
The Treasury Department advises you to prioritize your tax filing.
In theory, the sooner your file, the sooner you will receive your refund.
Keep calm and carry on.
Resource:The Washington Post (March 20, 2020) “Tax filing deadline moved to July 15, the latest measure to battle coronavirus downturn,”