Close to 14 Million People Will Receive an Extra Payment From the IRS
When the COVID-19 outbreak exploded back in March, filing taxes was the furthest thing on most people's minds. Recognizing that, the IRS made a smart decision: It postponed the April 15 tax-filing deadline to July 15, giving taxpayers an extra three months to not only get their returns in order, but come up with any money they owed for the 2019 tax year.
The IRS's move was a generous one in theory, except for one thing: Because so many Americans took advantage of that extra time and filed their tax returns much later than usual, they also delayed their tax refunds at a time when that money would've been helpful. Millions of Americans became unemployed in the course of the COVID-19 pandemic and subsequent recession it spurred, and so waiting three months longer for a tax refund put some filers in a very tight spot.
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Source Fool.com
