Important Tax Updates During Covid-19

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The Pandemic Should Get You Moving On Your 2019
Taxes
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• While fears about Covid-19 seem set to take over
  our lives and understandably so its
  important that amid the confusion and disruption,
  we dont neglect our taxes. While the tax filing
  deadline has been extended to help those
  Americans affected by the virus, it still makes
  good sense to get moving on your 2019 tax return,
  especially if you think youre due to receive a
  refund.
• With the continually changing situation and money
  worries at the forefront of most US citizens
  minds, having money in your pocket is perhaps
  more important than ever.

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• Just how will Covid-19 affect your finances?
• With investment portfolio balances dropping, many
  Americans are already beginning to feel the
  devastating financial consequences of the
  pandemic. Household goods prices have surged as
  shoppers panic and over-buy and workers are
  forced to stay at home to care for their children
  as schools remain closed, potentially costing
  them their entire salary (and/or their jobs). For
  those who are unable to work remotely, they face
  losing their only source of income. Then there
  are the numerous small businesses experiencing
  the terrible after-effects of less footfall, or
  no footfall at all.

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• But what does all this mean when it comes to your
  taxes? If the IRS owe you money, the quicker you
  can file your 2019 tax return, the quicker the
  refunded monies will appear in your bank account.
  No matter the amount, it could prove to be a
  lifeline if you lose your job or are forced to
  take a pay cut under the current circumstances,
  and for who knows how long.
• Its important to also take into consideration
  the fact that the IRS are already functioning
  with the barest minimum of human and financial
  resources, and should they be forced to reduce
  their working hours, or shift employees to their
  homes, then the entire refund process could slow
  right down, or even grind to a halt.

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• In light of recent advice given to many
  Americans, which includes the need to stock up on
  essentials such as food, household supplies and
  medication in readiness for weeks or months of
  self-isolation, getting your tax refund could
  help you with the associated costs of this.
• Get your tax return filed now!
• File your tax return as soon as possible, and be
  sure to do it electronically, as refunds for
  electronic returns are usually processed much
  quicker than paper returns. Filing electronically
  also means that youre less likely to make errors
  with your taxes that could postpone your refund.
  Naturally, filing in this manner also enables you
  to adhere to the restrictions of social
  distancing, as it requires no visit in person to
  a post office.

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• If you require any assistance with your 2019
  taxes, then there is a plethora of tax
  professionals who are still working hard to
  ensure their clients get the advice and guidance
  they need during these difficult times.
  Consultations can be made online or by telephone,
  so if you need help to get your vital refund as
  soon as possible, reach out to a tax professional
  today.
• At Heyer Associates, we proactively assist our
  individual and small business clients in meeting
  their goals. Our key area of focus is ensuring
  that our clients remain compliant with federal
  and state tax laws by providing them with high
  quality accounting and tax services Miami Beach.
  If you are looking for individual tax preparation
  in Miami Gardens, Heyer Associates would be a
  right option.