Georgia’s Tax Filing Deadline Pushed Back This Year
To help working families during the coronavirus pandemic, both the state and the federal deadline to file and pay income tax to July 15. This will help many Georgians, including contract, freelance, and low-wage workers who are currently receiving less income due to the public health emergency. If you are able to and/or you are expecting a refund, we encourage you to file your taxes as early as possible.
The new deadline will cause uncertainty for the state budget. Georgia’s fiscal year begins on July 1, so we will not know the amount of our revenue collections from income tax until the budget year has already begun. Georgia’s budget relies heavily on income tax collections, and all revenue collections are expected to underperform for the rest of this fiscal year.
The state budget for this upcoming fiscal year has not been finalized yet, and the money we have to spend is uncertain. It is urgent for Congress to pass legislation that includes funding for state and local governments to address budget shortfalls so that we can better plan next year’s budget and avoid depleting our Revenue Shortfall Reserve.
What COVID-19 Means for Georgia
We will continue to monitor developments with the ongoing coronavirus epidemic and what it means for Georgians. GBPI will continue to provide updates and recommendations for the best ways our state can mitigate harm and protect Georgians through this public health emergency. You can see the current summary of how Georgia has reacted so far and some recommendations for what the state should do moving forward here.
How has COVID-19 affected your life and work?
We want to know how public health emergency is changing the lives of Georgians. This survey will be used to inform our work and ensure that we are sharing relevant information.