Will The Tax Deadline Get Extended This Year?
I'm guessing there are a lot of people that will be eager to get their taxes filed this year - after the craziness of the last 10 months. Of course, I'm talking about everybody that knows there will be a refund coming their way and they'll want to get that money in their pocket as quick as possible. For those that owe.....there's probably no rush.
I'm usually lucky enough to get a refund when tax season rolls around - thank goodness for kids! But it's depressing how much money I've just handed over to bill payments this past year. My tax return, my first stimulus check, now the current stimulus check......all to bills......not fun. And speaking of that extra bit of money that the government is throwing our way - if you haven't seen your stimulus check yet - this could be why - and you can track your payment HERE.
But back to taxes . It might be a bit more of a pain for a lot of people when it comes to filing this year. There might be a few more hoops to jump through when it comes to dealing with things you wouldn't encounter in a regular year. Things like money from the stimulus payments will have to be reported, unemployment benefits for anybody that had their job affected will require an additional form, detailed records will have to be submitted by business owners that received PPP loans, and anybody that dipped into their retirement to make ends meet will be taxed on the money that was taken out. This KPAX article provides much more information on changes that taxpayers are facing this year.
I'm thinking tax prep services are going to be busy, busy, busy this year as more people move away from doing their own taxes. I finally got a "tax guy" two years ago and it was the best thing I ever did. Yes, I have to pay a little bit for the service......but it just takes the headache and worry out of tax time.
Last year the tax deadline was extended 90 days - from April 15 until July 15. As of now there hasn't been any announcement on the possibility of an extension this year. Find more info on filing taxes for 2021 HERE.
KEEP READING: See the richest person in every state