FinishLine Tax Solutions Announce Tips For Filing Taxes Amid COVID-19 Pandemic
HOUSTON, April 22, 2020 /PRNewswire-PRWeb/ -- In light of recent news that the federal government was extending the tax filing payment deadline to July 15, FinishLine Tax Solutions understands that taxpayers may have questions about when to file taxes. That's why they've announced several tax filing tips for taxpayers wondering how to go about tax planning for the 2020 tax filing season. Additionally, FinishLine Tax Solutions have revealed tips for taxpayers wondering how their government stimulus checks can affect their taxes during the 2021 tax filing season.
"While all of the new rules regarding federal taxes for the 2020 filing season have provided some much-needed relief for taxpayers across the country, we understand that taxpayers may have questions about how to move forward with their 2019 taxes," said CEO, Michael Avery. "That's why we want to provide taxpayers with helpful tips for filing their taxes this season, and also let them know we are here for them for all of their tax filing needs."
Prepare Your Taxes
First, FinishLine Tax Solutions revealed that one of the most important things taxpayers can do is to still prepare their taxes, even though the deadline has been extended. FinishLine Tax Solution notes this step is important because, depending on whether they're getting money back, or have money to owe, it's helpful to have that information in advance. For example, if a taxpayer will receive money back after filing their federal taxes, that might mean more money in their pocket right away during a time when the country is experiencing an economic downturn. In contrast, if you owe money, you may want to wait a few months when you're able to pay, or when you're able to enter into a tax relief program.
Government Stimulus Checks
In addition, FinishLine Tax Solutions announces some important tips for taxpayers regarding their government stimulus checks. First, FinishLine Tax Solutions recommends that taxpayers who had children turn 17 in 2019 wait on filing their taxes. This is because the stimulus bill is only good for parents who had children under 17 years of age. Furthermore, if you had a child who was born in 2019, you'll want to file right away as you will be guaranteed that $500 for your child born in 2019.
Additionally, FinishLine Tax Solutions understands that many taxpayers are wondering if they will have to pay taxes on their stimulus checks in 2020. Fortunately, FinishLine Tax Solutions reveals that because the stimulus check is considered to be a tax credit, taxpayers will not have to pay taxes on the sum of money they receive for their 2020 taxes.
Additionally, FinishLine Tax Solutions has announced that's ramping up its efforts to help taxpayers with tax preparation needs during the COVID-19 pandemic. Additionally, FinishLine Tax Solutions announced it will continue to offer free consultations to new clients seeking tax preparation or tax resolution needs. In addition, FinishLine Tax Solutions is reassuring taxpayers that if they prepare their taxes and learn that they owe more than they can pay by July 15, FinishLine Tax Solutions can help taxpayers enter into a tax relief program that will help them pay off their tax debt in an affordable way.
FinishLine Tax Solutions announces it will also continue to help taxpayers with tax relief programs, including applying for Installment Agreements and Currently Not Collectible Status, and negotiating an Offer in Compromise deal. The professionals at FinishLine Tax Solutions can help taxpayers prepare their taxes and also help them settle any tax debts when necessary. For taxpayers who need to prepare and file taxes for the 2019 tax year, they can call FinishLine Tax Solutions at 855-527-5857. Additionally, taxpayers can visit our tax resolution website for more information.
SOURCE FinishLine Tax Solutions
