Here’s what you need to know about closings, extensions, and other tax relief due to coronavirus concerns:
Will tax season close on time? Increasingly, taxpayers and tax professionals believe that there may be an extension of the tax filing season due to concerns about COVID-19.
COVID-19 is the official name for the infectious disease caused by the most recently discovered coronavirus. , as of March 12, 2020, there are 125,288 confirmed cases of COVID-19 in 118 territories and countries. Of those, 987 cases are in the United States. Despite suggestions that the Internal Revenue Service could extend the filing season, there's been no official or specific announcement. Last week, the IRS noted that it was monitoring the coronavirus and will"promptly respond to any emerging situations to protect our employees and taxpayers interacting with the agency." The IRS advises that"Taxpayers should continue to file and submit tax returns as they normally would.
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