Washington is debating extending the tax season. One expert's response: 'File right now'
Personal income taxes are due in about a month.
President Trump announced that certain individuals will be able to defer their tax payments without penalty given the ongoing coronavirus crisis. Treasury Secretary Steven Mnuchin added a promise of substantial relief to certain taxpayers on Wednesday.
Yet, details are scarce. Trump says he plans to act using emergency authority and hes asked Congress for legislation.
However the plans shake out, experts are predicting a bumpy ride for taxpayers for the remainder of the filing season.
What Trump is going to do is create an enormous amount of confusion, says Howard Gleckman, a senior fellow at the Urban-Brookings Tax Policy Center, referring to the idea of changing the tax-filing schedule for some people.
Caroline Bruckner, a professor at American University, has some advice to those expecting to get a refund and who want to avoid potential messiness: Go ahead and file, right now, she says.
https://finance.yahoo.com/news/washington-is-debating-extending-the-tax-season-one-experts-response-file-right-now-141808886.html
Deadbeat Donnie wants it.