Here are a few financial resources to help you during this time.
Please note the tax deadline and payments is now July 15, 2020. This applies to all tax returns due on April 15, which includes trusts, corporations, and individual tax returns. During this time, interest and penalties will not accrue. Also, please note that this is an automatic extension, and taxpayers do not need to take any action. However, if you need more time beyond July 15, 2020, you may be required to file an extension.
As of to date, some states have moved their tax filing deadlines as well. For the state of Louisiana, the deadline is still May 15, 2020, for individuals and corporations. At this time, Louisiana has not amended the original filing deadline. If you are required to file with another state, please check this link for more information.
Personal finance + budget
As it relates to your personal finance, here are some steps you should consider taking at this time.
- Take time to review your budget and eliminate unnecessary expenses.
- Organize your financial documents, consider checking out “My Financial Prep Planner” for help.
- Make sure to file past tax returns, especially if you are due a refund or a small business owner requiring assistance.
- Declutter your financial paperwork.
- Consider refinancing high-interest loans during this time.
If you are currently paying your student loans, please note that The U.S. Department of Education is waiving interest on all federal student loans. You are not required to take action. This implementation is effective as of March 13, 2020, and will remain in effect up to 60 days following. Please note, this action applies to federal student loans only. If you are uncertain regarding your student loans, please contact your service provider here.
Please also note, this does not delay your current payments. You can, however, request an administration request. This request can place a hold on your account for up to 60 days. Contact your provider for more information.