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Will tax day 2020 be postponed? How the April 15 deadline to file taxes may change



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Would the IRS consider delaying tax day this year? A request has been made.

Sarah Tew / CNET

For many people in the US, tax season is a stressful time of the year – and this year the time to file a file is shorter than in previous years. There is hope, however, as the IRS could do well to cut back the tax due date by a few months. A House of Representatives committee, which has asked the IRS for a nationwide extension, is awaiting a response.

Deadline extension nationwide (instead of individuals submit extensions separately) can provide financial relief to taxpayers as they are already going through hard times because of the corona pandemicThe IRS moved the deadline back to July 15 last year to help families who had problems with job losses due to COVID-19 company closures across the country.

If it deadline for tax filing this year, it can do more than your tax refund, if you expect one. This year, your missing incentive payments is linked to your taxes, and your income for 2020 can control how much money you get in one third stimulus check, plus it could affect it when you receive a paymentHere’s what you need to know about this year’s tax day, and how putting it back can affect you in more ways than one.

What is the House asking the IRS to do about this year’s tax term?

On February 18, the House Ways and Means Committee sent a letter to the IRS urging the agency to delay the deadline for filing your tax returns after April 15 this year.

The letter did not suggest a specific new due date to file federal taxes, but it did point out that the IRS has moved the 2019 tax deadline by three months to July 15 due to the coronavirus. The commission urged the IRS to extend the tax filing season again this year, “to eliminate unnecessary fear of taxpayers and practitioners.”

The IRS has not publicly responded to the committee’s request. CNET has contacted the IRS for comment.


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Stimulus Check # 3: What You Need to Know


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How will a new tax deadline affect the third round of incentive checks for me?

Since stimulus payments and your tax return has been completed this year, shifting the tax date would affect the third stimulus check

First, Congress is proposing to use the IRS information about your 2020 tax return, if processed, when it determines the amount you put into your third stimulus checkIn particular, the IRS would look into the AGI, or adjusted gross income, on your 2020 form to help calculate your payment, using a new stimulus check formulaBut the tax authorities would use your 2019 tax return if you had not yet submitted your 2020 tax return. This could work to your advantage if your income from 2019 was lower than your income from 2020. If your tax return for 2020 were to do so bring you a bigger third stimulus check, Like you have more dependents, you’d like to file an application as soon as possible, so the IRS will process your 2020 taxes before it’s released your third stimulus check

Postponement of the tax term would do that gives you more time to archive, but then again, it would also mean you should wait longer to receive any missing incentive money, and if there is a difference between your 2019 and 2020 taxes, you should wait until tax season 2021 to claim it

What a new tax term could mean for any missing stimulus payments

Your federal tax returns this year are also how you get back all the money the IRS owes you from the first two stimulus controlsIf you have not received payment or received less than you were eligible to receive, you can claim that money on your federal tax forms as a discount credit when you submit an application this year. This also applies to non-affiliates – those who normally do not have to file a tax return. If you wait to file your taxes closer to a new, later due date, so are you waiting to receive your money, which is bundled in your tax return

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Congress tied your taxes and incentive check money together.

Sarah Tew / CNET

If the IRS extends the filing due date, will that delay me from paying my taxes too?

like you a tax extension, that gives you more time to complete your paperwork and send it to the IRS. But that won’t get you off the hook for any taxes you owe. Whether it’s April 15th or a later date, the IRS expects you to pay within the filing deadline or you are also responsible for paying any interest accrued on the amount plus a late payment penalty.

Would my state’s expiration date also change with the new deadline?

Last year, all states that collect income taxes shifted their filing deadlines to about July 15, 2020, the federal tax deadline, according to the American Institute of CPAs. If the IRS postpones the filing deadline again this year, we expect states to follow suit.

For more details on taxes this year, we spell the difference between a tax refund and a tax return how the tax season will be different in 2021 and three reasons to sign up for direct deposit when you file your taxes.


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