Tax season 2020: frequently asked questions for deferment of filing of coronavirus

In the beginning of 2020 many thought that the turmoil of last year’s tax season are long gone. According to experts, in the new year to do the taxes it was supposed to be easier, as people dig through the new tax rules, is reminiscent of USA Today. But then in the world and the United States broke coronavirus crisis that has complicated the tax season 2020.

Налоговый сезон 2020: часто задаваемые вопросы об отсрочке подачи деклараций из-за коронавируса

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On March 17 the head of Treasury Department USA Steven Mnuchin said at a press conference that the majority of Americans get a three-month delay for the payment of income taxes for the year 2019. IRS (IRS) has extended the deadline for paying taxes after April 15, an additional 90 days — until July 15, 2020. Do you need this delay for you personally? Try to understand.

Many people do not want to wait that long, especially those who are awaiting a tax refund. The internal revenue service stated that the majority of tax returns still are issued within 21 days.

Here’s a look at the key tax issues in light of pandemic coronavirus in 2020:

Question: How I can help the extension of the Federal deadline until July 15?

Answer: Taxpayers who owe money to will be able to defer the payment of Federal income tax from 15 April to 15 July. For this you will not have any penalties and interest, regardless of the amount of the debt. The delay gives you 90 days and saves money.

Question: Can the IRS give me information about Federal assistance in connection with the coronavirus?

Answer: From the IRS has a special page at www.irs.gov/coronavirus but at the end of the day March 30, it was still published a message about the lack of information about assistance in connection with the coronavirus. Also it says that you do not need to register to obtain this assistance, and instead of calling, it is better to follow the updates.

Question: Can I wait to make contributions to an IRA or Roth IRA?

Answer: Yes, you can.

“Since the filing period for Federal income tax was postponed to the July 15 deadline for making contributions to your IRA for the year 2019 is also extended until July 15, 2020,” said the IRS.

Question: Can I submit my tax Declaration now?

Answer: Yes. Many tax services work. It’s likely that your accountant works remotely. Some offices H&R Block are open, but many of them rely mainly on the services drop-off (collect your documents, find the suitable office and just leave documents at the front Desk — the service representatives will take them out, stated on the official website).

Despite the fact that the deadline for Federal income taxes was extended for 90 days, people still want to get refunds as soon as possible. Those who are facing layoffs, reduction in working hours and loss of work in the field of higenamine, you need to file a tax return in 2019 to in the near future to obtain a tax refund.

“Despite the fact that the pandemic coronavirus tax day will come July 15, the IRS still accepts tax returns and process refunds, said Susan Waldron, a spokesman for H&R Block. — Refunds are vital for millions of families now more important than ever”.

In Jackson Hewitt advise customers to call first and find out whether or not the local office, and ask about the hours of the visit. There offer various ways of reducing the time in office, including drop-offs. But the work order was also amended: “We no longer accept visitors, so that people were not going in the lobby”.

Question: What are some free online options for filing taxes are there?

Answer: Maybe this year you want to try Free File. Hardly anyone uses it — less than 2% of taxpayers — but this is a good option, especially if you have time and you want to save.

Go to www.irs.gov scroll Free File. Approximately 70% of taxpayers can qualify for some of the proposed services, measured as adjusted gross income. If your adjusted gross income is $69 000 or less, you have the right to participate in the program. Suppliers of tax software can target certain groups by age or income. But the provider will offer services that meet your conditions, if your income is $69 000, or less.

Question: Can I go to the IRS office and get help?

The Answer: No.

“The IRS has suspended almost all personal contacts with taxpayers,” reads a notice published on March 24. — All Centers taxpayer assistance closed, and the widespread termination of personal service active until further notice.”

The IRS can resolve some problems by telephone, if taxpayers are already scheduled to meet in the center.

Question: are There any other reasons to file a tax return until April 15?

Answer: Yes. You have missed a tax refund because they have not filed a tax return in 2016? To get money, you need to submit a Declaration on income tax for the year 2016 to April 15, 2020. This term has not been renewed. Otherwise you will forever lose your chance to get this unclaimed refunds for 2016.

Some of the unclaimed refunds belong to students, part time workers and others who may have missed the filing of the Declaration.

In addition, if you have to pay property taxes and the deadline of April 15 remains in effect.

Question: What happens if I have already filed a tax return and paid taxes in 2019?

Answer: If you already wrote a check for taxes, you will not get the money back even for a short period. Further extension of 90 days will not help.

“But they (taxpayers who have already paid) can obtain some comfort knowing that their taxes are minus one problem,” said Marshall hunt, certified public accountant and Director of tax policy for the accounting aid Society in Detroit.

If you haven’t paid yet, but have already planned automatic electronic withdrawals by April 15, your payment will not automatically be rescheduled for July 15. But the IRS notes that there are ways to cancel and reschedule the payment.

“If you have scheduled a payment as part of filing a tax return (allowing withdrawal of electronic money), you can revoke (cancel) your payment by contacting the financial agent of the Treasury Department on the phone 888-353-4537. You must call to make a cancellation request no later than 23:59 Eastern time, 2 business days before the scheduled date of payment,” said the IRS.

“If you schedule a payment with a credit or debit card, contact your payment processor card to cancel the payment,” said the IRS.

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