The 2019 tax deadline extension runs out July 15.
The good news is that they dontyet, at least.
Which is to say that they have no bearing on the 2019 tax deadline this week.
To that end, below, two experts offer advice for navigating unwelcome tax bills in this difficult moment.
After all, were already halfway through the year, and procrastinationliterally, in this casedoesnt pay.
7 tips for navigating the 2019 tax deadline
1.
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Many sites havetax calculatorsyou can use as reference points, too.
(So its best to err on the side of overpayment, if possible.)
One is to set up an installment plan.
There is no setup fee on the former but there is on the latter.
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I would just call them and ask what they can do.
If youre owed a refund, you may get a (small) surprise bonus this year!
5 things to know now when planning for your 2020 tax return
1.
Unemployment benefits are taxable
Unemployment benefits are taxed unless you agreed to have it pre-taxed when you signed up.
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If you received the full federal pandemic benefit, this means you will owe taxes on $9,600.
She recommends estimating around 20 to 25 percent, or $1,920 to $2,400.
In that case, you should get a $300 credit on your 2020 return.
This may be something to keep in mind as you calculate payment or refund estimates for next year.
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