The new CARES Act has pushed tax filing deadlines


The new CARES act has pushed tax filing deadlines but is delaying your filing best for your case? The CARES act has pushed tax filing deadlines to July 15, 2020. For those going through a divorce or a modification of a final judgment for divorce, the tax return is a critical piece of information. Given the extension on the deadline, some might think that the best strategy for their case is to delay the filing of their return. Each case is different and therefore you should speak with your attorney regarding the specific facts of your case. In general, the more information that both parties have about the finances, the quicker and easier it is to reach a settlement. If your return is not filed and your income is an issue in the case, then the opposing side might delay the proceedings waiting for the filing of the return. By the same token, not knowing what your tax liability (or refund) might be may leave you at a disadvantage when making a settlement offer. Strategize with your attorney for the best plan of action.