I expected this one: tax deadline extended in US
By The Horse
@TheHorse (218889)
Walnut Creek, California
March 20, 2020 12:26pm CST
A few days ago, I told a friend that I assumed the IRS would extend our tax deadline beyond the usual April 15.
This morning I was "proven" right: the IRS has extended the deadline to June 15. This makes sense, as many Americans are "frozen in place" right now.
I wouldn't be surprised if our "shelter in place" extended beyond the end of next week.
Had you heard about the extension? In you're not from the US, when are taxes due in your Country?
The American stock market actually gained a few points yesterday, and opened higher again today. But it has since sunk in to negative territory, though not by a lot.
Would two "flattish" days signal a "bottom" to this crash? I have no idea.
In any case, had you heard about the extension? I was relived to read that. Would you put money in the stock market at this point?
11 people like this
12 responses
@lovebuglena (44537)
• Staten Island, New York
20 Mar 20
This extension is not to file taxes but for those that need to pay taxes. Still gotta file by April 15th. This is what our tax preparer told us.
1 person likes this
@lovebuglena (44537)
• Staten Island, New York
20 Mar 20
@TheHorse You still have to file taxes by April 15th. If, when you file, you owe taxes you have 90 extra days to pay them. Hope this clarifies things.
1 person likes this
@TheHorse (218889)
• Walnut Creek, California
20 Mar 20
@lovebuglena I will look into this. It wasn't made clear in the article I read.
@Deepizzaguy (102876)
• Lake Charles, Louisiana
21 Mar 20
I did not know that the tax extension date was moved from April 15 to June 15. It is a great decision since every sports event and schools have been moved back to the coronavirus problem.
1 person likes this
@TheHorse (218889)
• Walnut Creek, California
21 Mar 20
I'm hearing mixed reports. I head it was June 15. Then I heard it was July 15th. Then a LyLotter reported that you had to have your tax return in by April 15, but you could delay payment until July 15. Then I heard (just now, on the radio) that both fiilng and paying were delayed until July 15. I guess its a "fluid" situation, as everyone tries to clarify.
1 person likes this
@lovebuglena (44537)
• Staten Island, New York
21 Mar 20
You MUST file by April 15th. If you owe taxes when you file then you have until July 15th to pay. This is per IRS website.
Oops. Now they are saying deadline is extended.
1 person likes this
@Deepizzaguy (102876)
• Lake Charles, Louisiana
22 Mar 20
@lovebuglena Thanks for sharing the information.
1 person likes this
@wolfgirl569 (106323)
• Marion, Ohio
20 Mar 20
I had heard about paying late with no fees added. No I will not invest.
1 person likes this
@1creekgirl (41430)
• United States
22 Mar 20
I heard about the tax extension, but what about the state taxes?
1 person likes this
@LindaOHio (178701)
• United States
20 Mar 20
Yes, I heard about the extension; but I did our taxes in February. We are paid up to Ohio and received a refund from the Fed. Yes, I would put money into the stock market and then wait until it recovered...however long that may be.
1 person likes this
@TheHorse (218889)
• Walnut Creek, California
21 Mar 20
@LindaOHio Probably so. We shall see.
1 person likes this
@LindaOHio (178701)
• United States
20 Mar 20
@TheHorse The market will probably go down some more before it's done.
1 person likes this
@LeaPea2417 (37355)
• Toccoa, Georgia
20 Mar 20
Yes, I read about that. No, I don't think I would put money into the Stock Market now.
1 person likes this
@Marilynda1225 (82799)
• United States
20 Mar 20
I don't think I would invest in the stock market right now but I did hear that the tax deadline has been extended.
1 person likes this
@JohnRoberts (109846)
• Los Angeles, California
20 Mar 20
Many people had already paid their taxes so not affected.
1 person likes this
@MarbleGlobe200 (60)
•
21 Mar 20
I will put money into the stock market once it has settled down pretty low. Once low, I can buy a good amount of shares from destined to rise companies and wait to sell them off.
1 person likes this
