As many of you know, Prepare + Prosper (P+P) made the difficult decision to suspend our in-person services until further notice. We are disappointed to put this pause in place because we know the financial ramifications for low– and moderate–income families are and will continue to be magnified during this time. We take our responsibility to minimize risks and prioritize the safety, health, and well-being of our communities seriously.  

Supporting the financial health of low- and moderate-income individuals and families is of the utmost importance to us. During this time of flattening the curve, we strive to remotely provide our customers with information and support. We continue to provide financial coaching remotely, some enrollment in FAIR banking products, and we have begun to drill down on new ways to engage our volunteers in offering high-quality free tax assistance that doesn’t rely on in-person preparation.  

We will keep our website homepage up-to-date with information, and email when we have news. Please do not hesitate to reach out via contact@prepareandprosper.org or leave a message at 651-287-0187. We will respond as quickly as we can. 

FILING YOUR FEDERAL AND STATE TAXES

In response to the COVID-19 emergency, both the Internal Revenue Service and the Minnesota Department of Revenue are giving people additional time to file income tax returns and make payments. If you file by July 15, 2020, no penalties or interest will be added. Taxpayers who are due a refund are encouraged to file as soon as possible.  

If you’d like to file on your own, check out the Minnesota Department of Revenue’s list of free filing options available via IRS’s Free File program. We hope to be able to share more soon about alternative ways we can offer free tax assistance. 

Additionally, below are answers to common questions we are receiving.  

I already filed my taxes, what do I do?  

If you already filed your taxes this year, you can expect your refund on the normal schedule. The IRS and Minnesota Department of Revenue are still processing returns and issuing refunds. You can check the status of your refund via the “where’s my refund?” page on the IRS website.  

What about my property tax refund? 

The due date for homeowners and renters to file for their property tax refund remains August 15, 2020. Refunds for renters start coming out in July and refunds for homeowners usually come in the fall. If you sent your CRP or property tax statement to P+P, we still plan to prepare your return and send you a copy before the due date.  

What if I can’t file by July 15, 2020? 

If you are getting a refund, you can claim the refund from your 2019 tax return until April 23, 2023, with no penalty for filing late. If you think you’ll owe taxes, you can file an extension to get more time. If you need an extension, reach out and we’ll send you more information.  

STIMULUS

The Treasury Department and the Internal Revenue Services announced on March 30 that the distribution of economic impact payments or “stimulus checks” will begin in the next three weeks. P+P is still learning the specifics of these payments and will communicate more as we learn more and know how we are able to help taxpayers file returns to access these payments. For now, some things to note:  

  • The IRS will calculate payments to those eligible based on the 2019 (if available) or 2018 tax returns. They will also distribute the payments through the payment method indicated in 2019 (or 2018) tax return. 
  • If you are not typically required to file a tax return, you are still eligible for this payment, those who receive Social Security benefits will not need to file a simple return in order to receive a payment.  
  • The deadline for receiving payments is December 31, 2020. 
COVID-19 AND UNEMPLOYMENT BENEFITS 

If you or someone you know is unemployed, changes in unemployment benefits, made through an executive order, have been put in place to better serve those out of work. Key points of executive order 20-05 include:  

  • Suspending the unpaid week waiting period previously required 
  • Extending benefits to those who are unable to work directly or indirectly because of COVID-19, including those who cannot work in order to care for children 

Minnesota’s Department of Employment and Economic Development (DEED) strongly encourages individuals to apply online. Additionally, applicants are being asked to submit on certain days of the week depending on the last digit of their Social Security number. Because of the surge of unemployment claims, the phone lines may have longer wait times. Submitting the application online is the fastest way to determine eligibility and start receiving benefits. Additionally, it lessens the phone wait time for individuals who do not have internet access or need to apply in a language other than English.  

HOUSING AND FOOD RESOURCES

If you or someone you know is experiencing housing insecurity, Governor Walz has implemented an executive order to safeguard housing during this time. More details on executive order 20-14 include:  

  • Ceasing the termination of residential leases during the emergency* 
  • Halting evictions of tenants* 
  • Requesting mortgage holders halt foreclosures and evictions, and encouraging them to not impose late fees or other penalties for late payments related to the COVID-19 pandemic  

*exceptions are made when the tenant poses a serious risk to other residents 

This executive order was designed to keep people sheltered during the peace time emergency. It does not relieve renters or homeowners of payment obligations.  

Additional housing resources include:  
  • Home Line is a nonprofit that provides free and low-cost legal, education, and advocacy services to tenants in Minnesota 
  • Tenant Resource Center of Hennepin County brings together multiple community resource to serve people who are at risk of eviction or homelessness 
  • Saint Paul Bridge Fund includes a $1 million investment to provide eligible families and small businesses with direct assistance for rent or mortgage payments.  
Food resources:  

Please note the lists above are not comprehensive, and may change as resources change during this crisis. We have additional resources listed on our website. If you know of additional resources that should be included, please let us know. The resources listed are not sponsored by P+P.