Tax Day 2020: Don't wait to file! You may be owed a refund

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Wednesday, July 15, 2020
Still need Tax Day help? Here's what to do
With the coronavirus, the regular methods of getting Tax Day help are no more. Hit play to hear what you can do instead.

On top of all the other things you may need to do today, don't forget it's also Tax Day.

April 15 is the traditional tax filing deadline, but the federal government pushed it back three months due to the coronavirus pandemic.

The IRS also announced earlier this month that the deadline won't be extended again, so you'll have to act now.

You can find tips on how to file your taxes on the IRS website.

You can also try getyourrefund.org, which is run by IRS-trained volunteers. Many people who have yet to file are owed a refund, and the IRS will pay you interest for the refund.

READ MORE: IRS has $1.5 billion in unclaimed 2016 tax refunds that must be claimed by July 15

It's still possible to file an extension, but if you owe money, you can't wait to pay the IRS.

"If you can't pay all your taxes, still file your return. You do not want to file late or make sure that you file an extension, because if you don't file an extension today, and you owe tax money, there (are) additional penalties and interest that will be charged to you for late filing," said CPA Ed Gardner.

Unfortunately, the usual, free tax helpers can't lend a hand this year, but other help is available.

Tax experts say you should pull out 2018's returns and refer to them to help you get this year's forms filled out correctly.

"One, to see that you are not missing anything, but at the same time, to look for anything that might carry over. For example, you might have a stock loss carry over. There are typically a lot of deductions that people forget," said Gardner.

Keep in mind, next year's filing may be more complicated for a lot of people who are currently getting unemployment or setting up home offices, so you'll want to keep accurate records now.

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