Online Originals: Extended tax deadline is approaching

Online Originals

GREENVILLE, N.C. (WNCT) -The new tax deadline is approaching.

Specialists are encouraging people to not wait until the last minute.

July 15th is the extended deadline to file state and federal taxes. 

Professionals say if you have to file, make sure all documents ready.

 “Bring your tax documents; if you have wages you need your W-2. If you have bank interest or any other interest that’s generated on a 10-99 bring that.  A 10-99 means all sorts of things, it means bank interest, it means capital gains, brokerage firm” said Stanley Pearlman, Memorial Tax Suites Tax Services INC, tax specialist.

Stanley Pearlman says covid-19 is causing hardships for tax filers, but they still should pay whatever they can to avoid penalties.

“If you owe, and you have to pay, you pay what you can and get on a payment plan,” said Pearlman.

Refund returns are taking longer than usual because fewer I-R-S employees are working.

“There has been two situations where I told the tax payer, The IRS has closed down their files manning their telephones. The only thing they can do is contact those of congressmen because they don’t know who to contact. Imagine the frustration of losing your job and you can’t get your money, “Pearlman said.

There is no idea when refunds will be returned for July tax fillers. Some refunds still haven’t been processed from earlier this year.

“People still haven’t gotten money from February, we don’t know. The IRS has made no announcement when they’re going to staff,” Pearlman added.

Stanley says bigger problems will come up next year during tax season. Filing exemptions from pay checks could just bring additional problems.  

“You have to have money held for unemployment but I guarantee right now very few people are because they need the money to hold. They say come tax season I’ll deal with it,” said Pearlman.

Copyright 2020 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

LKQD Outstream

Trending Stories

news-app-download-apple-350x50news-app-download-android-350x50