The extended tax deadline is next week. Accountants say to file online
This is the critical time for registrants, the extended deadline is Monday May 17th.
Local accountant Alexa Heter suggests the online taxpayer file.
“Definitely e-file if you can. That’s what I would recommend, that way you are generally accepted within hours, ”she said.
This tax season is different because the US bailout has implemented many changes, including the way unemployment benefits are taxed, as well as expanding child tax credits for 2021.
Employee loyalty credits have been extended and the PPP loan has been extended until May 31, 2021.
Brianna Lara says filing was easy for her this year, but she had a few new things to consider.
“Just because I was moving and because I started a new job, I had to do some unemployment compensation so that we went, you know, from full time to a little part time,” a- she declared.
Alice Williams has yet to file her income tax returns, but said, “This is the first time for a lot of things to go into tax documents this year, so we need to be more careful and aware of what. we put and what we write. , you know, for that.
Williams’ husband Ronald has been outspoken about what people are up against. “Since everyone got stuck at home and you know, so many other things that we had to pay for, groceries and things like that. Of course, mortgages are very high. “
During the pandemic, many people lost their jobs and applied for unemployment. Some jobs have changed. Others even ended up moving, including out of state. All of these considerations can make filing even more complicated, as they may need to include more income streams or file a multi-state tax return.
The IRS provides payment plans for people and businesses who may not be able to pay what they owe in full; however, there are conditions attached.
Heter said, “Well, it gives you more time to pay your taxes, but unfortunately there is interest and fees that are charged. So, it just gives you flexibility if you don’t have the cash to pay now. “
She also had some good news, adding, “If you haven’t received a stimulus one or two, you can probably get it back with your tax return this year or apply it to your tax liability, which is great. And then, once you file your claim and haven’t received Stimulus 3, you should get it pretty quickly. “
The IRS allows people to request a filing extension until Oct. 15. The form can be found on their website at IRS.gov.