Updated: April 08, 2020 06:49 AM
Created: April 08, 2020 05:17 AM
ROCHESTER, N.Y. (WHEC) — The new deadline to file your taxes has been moved to July 15.
Normally, it would be April 15 but the new date isn't stopping people from filing.
Tax Preparer Jim Schnell said they are seeing a 10% to 15% overall lag in people filing their taxes. He said some are taking advantage of the extra 90 days but for the most part clients are filing on time.
As of now, there is no change to the IRS system and refunds will be processed at the same rate as last year.
Schnell said the benefits of getting your taxes done now are getting your refund on time, keeping up with your investment profile and managing your budget.
“Maybe if somebody looks at their tax process and says ‘Listen, I don't want to be dealing with this in May or June or July while I am outside.’ A lot of people, obviously if they are home right now you know for quarantine purposes, they have time on their hands and they are like ‘you know what I will just go ahead and put my paperwork together and send it into my tax preparer.’” Schnell said.
CPA firms are considered essential and it is business as usual for them.
Schnell said with the stimulus checks coming soon filing your 2019 return now might mean a better initial tax return for you and your family.
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