3 Tax-Planning Tips You Can Use Right Now

COVID-19 has been battering the U.S. economy since domestic cases started multiplying back in March. Since then, unemployment has reached Depression-era levels, and countless small businesses are at risk of closing their doors permanently. But even though the country is operating in crisis mode, it still never hurts to put some thought into your taxes in the coming weeks. A few smart moves on your part could benefit you financially, thereby making a tough situation somewhat easier. Here are a few action items to consider.

Because the greater crisis is so overwhelming, you may not be ready to focus on taxes just yet. And thankfully, you technically don't have to. Back in March, the IRS announced that the deadline to submit 2019 returns would be pushed back from April 15, 2020 to July 15, 2020, buying Americans three extra months to check that oft-stressful task off their list.

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