Need to file a tax return? Tax Day is July 15, after COVID-19 forced the Internal Revenue Service (IRS) to postpone the usual tax day – April 15 – and issue a three-month hiatus for returns to be filed.
The federal government hoped the decision would go some way to relieving the pressures – both logistical and economical – of filing tax returns amid school closures, severe business disruption and lockdown.
If you cannot file your tax return for whatever reason, then you can request an extension online, on the IRS website. However, do note that an extension to file is not the same thing as extending the time to pay. If you do need more time to pay, then file your return anyway and set up a payment plan online, or speak with an IRS advisor about alternative arrangements.
Isolating? Keen to minimize any contact risk? Use the electronic options to file and pay online.
Whatever your circumstances, if you’re facing difficulties, don’t expose yourself to penalties or problems; contact the IRS and speak with them about possible solutions.
Already filed? You’re in good company – by the end of June, over 130 million taxpayers had already submitted their returns ahead of the deadline.
July 15 is a significant date on the tax calendar for other reasons as well – it’s the final date to claim a refund on 2016 tax returns. The usual three-year statute of limitations to claim a refund was also extended to July 15, but any of the $1.5 billion left unclaimed after that date will become the property of the US Treasury.
Know anyone who might appreciate a little socially-distanced help to submit their return or navigate the online submission procedure? Whenever we reach out to lend a hand to someone, it can strengthen the support networks that enable communities to thrive.
Whether it’s taxes, clean-ups, food parcels or wearing a mask: being part of a community that looks out for each other? That’s the Bighorn spirit right there.