Good news for Central Texans. This year, the tax man says he'll wait.
"Especially for us at a CPA office, we weren't sure if they were extending it or not. A lot of people are not wanting to be around and not coming in as much, and we were worried about them not extending it. I think it’s a relief that they did,“ said Blanca Alejandro.
The federal government announced Friday that individuals who owe less than $1 million and corporations that owe less than $10 million don't have to file taxes until July.
Local accountants say if there's a chance you could get a refund, it's still a good idea to file as soon as possible, as that money could come in handy during the coronavirus outbreak.
“If you do expect a refund then I would go ahead and file your return. Get your refund now. That too will help financially for people who are having to stay home and miss work at this point,” said Christi Ticknor.
More changes could come. In addition to tax relief, Congress and the president are working out a stimulus plan, which should include checks for most Americans.
“The latest I have heard Is that they are proposing $1,200 or less per individual. This is for individuals who, on their 2018 tax return, who had an adjusted gross income of $75,000 or less. It can range on that, and it’ll be $500 per child,” said Ticknor.
For now, CPA’s in the area remain hard at work knowing that for so many, it’s an uncertain time.
“I’ll probably have to work whether I’m sick or not because my clients rely on me to file things timely, and even if I’m sick, somebody has to do it,” said Sam Griffin.
