Extending 2019 Tax Season

From April 15th to July 15th

One of the busiest times for accounting firms and the most anxious time for many adults has been extended a whole three months. The president thought it was a great idea to extend this season due to the Coronavirus, hopefully to get people who got sick some time to file. I’m not sure of the thinking behind it other than making every Tax Preparer very happy for more work, but the a big benefit to extending season is that it gives taxpayers some time to pay their taxes if they owe for 2019. However, be weary of the state deadlines. Each state manages their own deadline separate form the Federal government, meaning that the state return may still be due by April 15th or before the July deadline for the federal tax return. It is common knowledge that the virus has affected every institution and the IRS is not exempt from that, some agents are working from home, but heed my warning that many if not all IRS services are suspended-even tax practitioners are unable to make calls. They are effectively closed until further notice. If money is owed to the Federal or State governments a payment plan probably has to be set up online. Please speak to your tax preparer for specifics.

I know that you, the reader, may have friends. And those friends could owe money and are waiting to file their taxes until June or July. Don’t do that. Many tax firms are closed or closing as the writing of this article due to the fear of the virus getting to them (TRBC is open right now and open all year so you should schedule an appointment soon, we’re getting really busy). There are actually many benefits to scheduling an appointment now. While we have time to answer taxpayer questions, filing your 2018 or 2019 tax return is essential to obtaining the stimulus check. The government is cooperating with the IRS to verify income and dependents to see who will receive a check. A very key piece of information is being left out on many articles covering this topic. 2018 and 2019 tax years must be filed to receive refunds-the government is NOT holding back on those who are deserving of refunds.

What If I Don’t Have a Filing Requirement?

Those who have not filed a 2019 tax return or a 2018 tax return, regardless of the reason must file at least the one of these years to receive the check even without a filing requirement. I implore those who have not filed to file both these years, because there could be unclaimed money laying on the table. For those waiting for their $1,200 with the 2018 return not filed, no $1,200 government money will be sent. So please click the button below so we can file your tax return quickly so you can receive all the money you deserve.