3 Tax Tips in the Time of Coronavirus
With the COVID-19 crisis taking center stage for most news outlets, it's easy to forget about a nagging task that many Americans have yet to accomplish: filing taxes. If you still haven't checked that item off your list, here are a few tips to keep in mind during this very unusual tax season.
Because of the greater health crisis, the tax-filing and tax-payment deadlines have been pushed back from April 15 to July 15 this year at the federal level, and many states are following suit. On the one hand, that extension may seem like a good thing, because it means you don't have to deal with the hassle of submitting a tax return in the next two weeks while life is in disarray. On the other hand, if you're owed money from the IRS, putting off your taxes another three months will only delay that refund in getting to you. And if you're out of work, or have been spending extra money stocking up on supplies and the like, then having that cash sooner could come in handy.
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Source Fool.com
