Should I file now or later

[WRT756]

My wife & I are both currently unemployed and our preliminary completion of Federal Taxes resulted in us having to owe money this year (had to do this in past couple years). Since the IRS is giving us until July to file, we opted wait.

Now we are wondering if we should complete and submit  our 2019 Federal Taxes quickly and ask for an extension to pay, so to easily get access to the governments stimulus check? They don't have our direct deposit information (since we owed in past years) and if using this years W2's (2019) the joint income is below the $150,000 (past years were a bit higher). 

[JulieS · Accepted solution]

Yes, it would be a good idea to file now, so you will get the economic impact payment as soon as possible.

You can file your return  now and pay later. If you indicate you are going to pay by check, you will get a payment voucher to mail in when you are ready.

You also have the option to pay electronically at a later date either through TurboTax or directly at the IRS website.

Click here for IRS direct pay.