Young, broke, or both? You’ll still want to file your taxes July 15th.
Jul 14, 2020, 7:26 AM
Tax day is April 18, 2023. (Photo credit: Getty Images.)
(Photo credit: Getty Images.)
WASHINGTON — People who do not normally file taxes, like young adults or those with a part-time job, are being encouraged to make sure they file on July 15th in order to qualify for a stimulus check.
DMBA Certified Financial Planner Shane Stewart says he has seen a lot of people that usually skip doing taxes filling out a 1040.
“There are quite a few people this year who wouldn’t normally have to file because their income is low [or] young adults and folks like that who make some money but not enough to require them to file. However, they are filing anyway so that they could qualify for that…stimulus check,” Stewart says.
He says that filing is how the Internal Revenue Service (IRS) finds people to send stimulus checks, so filing now also makes sure as many people as possible are included in the next round of stimulus payments if they happen.
“If they haven’t filed before, and they don’t file this year, there’s really nothing on file for the IRS to, if there were, in fact, another stimulus program, offer that to someone who hasn’t filed in the past,” Stewart says.
Stewart is also encouraging people, young and old, to E-File their taxes so they can get both their stimulus check and their tax refund faster.
