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Why the coronavirus won't delay your tax refund

Source: finance.yahoo.com - Mar 9, 2020

The latest data from the IRS shows almost 60 million tax returns have been filed with refunds averaging $3,064. While many companies are seeing both supply and demand effects from the coronavirus outbreak, your refund likely won’t be delayed. A Treasury Department spokesperson told Yahoo Finance that “there are currently no delays and we do not anticipate any at this point.”

Barbara Weltman, author of “J.K. Lasser’s Your Income Tax 2020,” says electronic filing lowers the potential for a virus-related problems this tax season. “A lot of information is transmitted electronically, scanning and sending materials. So in-person is not necessarily the way to go now,” Weltman told Yahoo Finance’s “On the Move.” “The IRS makes it easy with software products and paid preparers to submit returns electronically.”

Category: General Business