Here's Why You Shouldn't Let Your Taxes Fall by the Wayside Right Now
With COVID-19 dominating the news and millions of Americans grappling with unemployment, it's easy to ignore the tax return you still haven't filed for 2019. And since the IRS pushed back the filing deadline by three months, there's technically no harm in putting off your taxes since you have until July 15 to both get your return in on time and pay the IRS any amount you might owe. But actually, the sooner you deal with your tax return, the better, and here's why.
If you've lost your job or have seen your income get cut because of COVID-19, you may be entitled to unemployment benefits -- but those benefits may not be enough to replace the paycheck you once collected. Furthermore, while there may be a $1,200 stimulus payment coming your way, if you're struggling financially, that lump sum may not suffice in helping you cover your bills.
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Source Fool.com
