Questions arise as 2019 tax deadline extended due to coronavirus pandemic nears

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Questions arise as 2019 tax deadline extended due to coronavirus pandemic nears

One of the most popular questions in people’s minds: Can I write off all of the things I've been using in my home office since I've been ordered to work from home? You very may be able to, but not this year.

With your mind on many other things this time of year, remember it's almost tax time.

This year's deadline to file and pay your taxes had been moved to July 15.

One of the most popular questions in people’s minds: Can I write off all of the things I've been using in my home office since I've been ordered to work from home? You very may be able to, but not this year.

Remember, the filing extension is for the 2019 tax year. That's before the COVID-19 crisis in the U.S.

That home internet you had to beef up, the business cell phone you had to buy or the laptop for your side hustle won't be considered at all for your 2019 tax return due on July 15 because those were expenses incurred in 2020.

The same thing goes for any unemployment or benefits. None of those things will be addressed until you file your 2020 taxes in 2021.

You're also asking about stimulus money. For months, we've been telling you if for some reason you haven't received your stimulus check or you didn't receive as much as you 're entitled to, you're able to claim that amount on your tax return as a credit.

And while this is true, that's a payment you should have received in 2020, so you won't be able to address that until it comes time to file next year.

If you're not confident you can file on time, you can request an extension until October 15. But know that if you owe money, to avoid fees and penalties, you would still have to pay by July 15.

It’s important to note the contributions deadline was also moved. You've got until the fifteenth to do things, like max out your IRA to save you a few bucks.

As always, research tax breaks for things like tuition and child care.

If you're going to use a tax preparer, please make sure it is a reputable company with a good foundation. So if anything goes wrong, they'll still be easy to find once the fifteenth has come and gone.