If you’ve been dragging your feet on filing your personal income taxes, it’s time to stop procrastinating and get them filed! The Coronavirus Stimulus Bill includes a payment to most US Citizens (depending on your income level) and they are using past tax returns to decide who gets it.
Why You Should File Now
If you haven’t filed your tax return for 2019 they will use your 2018 return to determine how much you qualify for. According to reports this will start to be factored for each home in the next few weeks. For most of us having them factor it with current information is best.
Here are a two reasons to definitely file now:
- If you had a kid in 2019 but haven’t filed taxes you wouldn’t get the extra $500 for that child.
- If you made less in 2019 than 2018, that could be the difference between qualifying and not.
