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Taxes and the Coronavirus: when to file, when to wait

We’re expecting to hear soon whether Governor Kate Brown will decide to let Oregon taxpayers get an extra 90 days to file their state tax returns. One local expert explains how to figure out the

best path for your finances.

To file on time, or file later: the question on taxpayers’ minds during this coronavirus outbreak.

Samantha Pahlow is a tax accountant and financial planner who works at Ferguson Wellman in Portland.  She says make sure you have emergency cash on hand for your family during this crisis.

“If you’re short on cash and you’ve maybe recently lost your job. I think it makes a lot of sense to wait until July 15th, see what else comes up, apply for unemployment,   get some clarity around the

virus,”  says Pahlow.Your federal return deadline’s already extended from April to July: And if Governor Kate Brown decides to give state taxpayers a similar break: Pahlow says take advantage of

holding onto your money as long as you can as long as you owe money.  She encourages people to file early if they’re owed a refund.

 


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