Answer: July 15, 2020

Questions: 

• Just like school work, why is it important to know the deadline to file your tax return?
• What would be your advice for the 73% of tax filers who receive a tax refund? File as soon as possible or wait until July 15th?
• What would be your advice for the 27% of tax filers who owe the government additional taxes? File as soon as possible or wait until July 15th?
• What is the typical tax deadline?

Click here for the ready-to-go slides for this Question of the Day that you can use in your classroom.

Behind the numbers (CNBC):

The IRS is extending the federal income tax filing deadline to July 15 as part of a growing effort to stem the financial pain from the coronavirus pandemic, Treasury Secretary Steven Mnuchin announced Friday [March 20th]. The move gives Americans three months more than they normally would have to file their income tax returns for the 2019 tax year, without incurring interest or penalties.

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NGPF updates the tax unit every January to reflect changes to the existing tax code. Find all the resources you need here. 

About the Author

Tim Ranzetta

Tim's saving habits started at seven when a neighbor with a broken hip gave him a dog walking job. Her recovery, which took almost a year, resulted in Tim getting to know the bank tellers quite well (and accumulating a savings account balance of over $300!). His recent entrepreneurial adventures have included driving a shredding truck, analyzing executive compensation packages for Fortune 500 companies and helping families make better college financing decisions. After volunteering in 2010 to create and teach a personal finance program at Eastside College Prep in East Palo Alto, Tim saw firsthand the impact of an engaging and activity-based curriculum, which inspired him to start a new non-profit, Next Gen Personal Finance.

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