How to Check Status of COVID Relief Tax Refund
There is good news for all those people who still had not filed their taxes and were panicking about their tax refunds. The Government has decided to grant another month’s reprieve to make it easier for everyone.
Before the Tax Day, 2021 was supposed to be on April 15 but the state decided to push it back to 17th May without interest and penalties. This way, Americans now have additional time for filing their tax returns because the recent relief package of COVID-19 has made the IRS implement some sweeping changes regarding the tax code.
The whole of America is busy at the moment. Many U.S citizens are confused regarding their taxes, unemployment aid, and stimulus checks after the Government decided to enact the American Rescue Plan.
In the initial two sets of the direct payments, 127 million stimulus checks have been given to Americans so far in this month. Many Americans are trying to be done with their taxes as soon as possible because they want to be qualified for the recent stimulus aid round.
Why IRS Delayed Tax Filing
The original deadline of tax filing was extended to 15th April by IRS due to different reasons. Currently, IRS is troubled with outmoded IT systems and staffing issues while implementing sweeping changes of tax code from the relief packages of COVID-19. These reasons have led IRS to delay the tax filing procedure.
In 2019, IRS delayed the tax deadline by three months as well without interest and penalties as the enormous economic shutdown put a negative impact on everything.
Is this the Best Time for Filing Taxes?
The Americans have plenty of questions in mind as they are trying to figure out how this works. The most pressing question right now is this the best time to file returns?
In 2019, the third batch of stimulus checks was distributed to Americans. According to tax experts, if you qualify for 2020 stimulus checks but didn’t for the 2019 ones, then it is best that you quickly file 2020 taxes.
To gain further information and answer other questions, IRS recommends visiting their official website IRS.gov.
