Here we are.
America is under panic from the coronavirus (COVID-19) worldwide pandemic and everyone has questions about their income taxes and how they will be affected. The IRS has been requested to push back the income tax processing deadline beyond April 15th, but they don’t seem to be phased with moving it at all. Maybe they are thinking that if we can’t file, then we do have the option of filing an extension.
Either way with this request pending. Americans are urged to get with their tax preparer as soon as possible to get their income taxes done in case the IRS does not shift this deadline. Even if the deadline is shifted, it does not mean that citizens should delay getting their income taxes processed. Each day that the income tax deadline may be delayed, the IRS may delay tax returns.
Additionally, the number of COVID-19 cases is going up every day in every state. Companies, schools, gatherings, and even cities are shutting down some operations to help slow the spread of the virus. Growing Fact: with businesses, corporations, and even some contractors seeing a decline in work due to the state of emergency our country is in, people may need income tax return funds to get through the coming weeks or even months.
We all band together to live beyond the virus!
Here at HOPE we are advising our clients to submit their information to our office virtually so their income taxes can still be done in a timely fashion, before the current tax deadline. Which may give them the best chance of getting a safe and speedy return. If you absolutely cannot get in for an income tax appointment before April 15, then we suggest pushing your own deadline by filing an extension.
Just remember whether the government or IRS pushes the tax deadline or if you extend your own deadline with by formally filing for an extension, you need to get your taxes processed as soon as possible. The nation is being affected, which means the IRS may be on a lean staff as well. This could delay income tax processing as well as tax return processing.
Be sure to consult your tax professional to determine the best option for you.
Let’s be safe…let’s be diligent…schedule your virtual tax processing appointment as soon as possible.
If you are in need of getting your income taxes processed, please reach out to our office via email at contact@hopeaccountingfirm.comto make a virtual appointment today.
Have questions? Want more information about this topic? Contact the HOPE Accounting Firm at 216.744.9303 or at contact@hopeaccountingfirm.com.