CONSUMER CATCH-UP: Taxpayers get 3 month extension to pay taxes but must still file on time, financial institutions close local branches, and Domino's is hiring to keep up with delivery demand
SAN FRANCISCO (KGO) -- Taxpayers given 3-month extension to pay taxes; must still file by April 15
Original reporting by Randall Yip
If you owe more taxes to the IRS, we have some good news... and we hope there will be even better news in the days to come.
The Treasury Department has extended the deadline to pay your federal taxes to July 15 due to the coronavirus pandemic. That's a 90 day extension.
But Norman Golden of the Golden Gate Society of Enrolled Agents says there's a big "but."
"But they're still saying you have to file a return by April 15, or file an extension by April 15, or else the deal's off. If you don't file a return or extension, then they're going to access penalties and interest," said Golden.
Filing an extension would give you an additional six months to turn in your taxes.
Many taxpayers may choose to do that since some tax preparers have shut down their offices due to the coronavirus. However, that's their own choice and is not mandated by the shelter-in-place orders here in the Bay Area, since tax preparers are exempt from the order.
Golden also says the Treasury Department may also decide to push the April 15 federal deadline back a few months.
"There's been pressure just today to get the Treasury to extend the filing, not just the payments, so that people won't have to file the extension," Golden said.
Earlier this month, California extended its deadline to both file and pay your state taxes until June 15.
Schwab, Wells Fargo, Chase closing branches due to coronavirus outbreak
Charles Schwab, Wells Fargo, and JP Morgan Chase have closed or will be closing brick-and-mortar branches in response to the spread of the coronavirus.
The financial institutions cited a concern for the health and safety of their employees and customers.
According to the San Francisco Business Times, Charles Schwab "told clients that all its Bay Area branches closed Wednesday to customers due to the coronavirus outbreak -- and branches elsewhere in the nation may follow suit."
In their email to customers, the brokerage firm explained it is closing public access and walk-in traffic in branches across 11 Bay Area counties. The firm went on to say that the branches will still have staff in order to assist customers who call; Schwab also encouraged its customers to use its online or mobile channels.
Similarly, Wells Fargo is also preparing to close some of its banks across the Bay Area. It is undetermined which branches will close, although Wells Fargo said the closures would "also impact areas outside of the Bay Area."
Wells Fargo spokesman Ruben Pulido told the San Francisco Business Times: "We are enhancing social distancing measures, staggering staff and shifts, relocating employees to busier branches, and temporarily closing some branches in the Bay Area as early as today. We continue to evaluate the steps we can take in this very fluid situation to ensure we can serve our customers and keep our branches safe."
J.P. Morgan Chase is following suit, closing 1,000 bank branches -- 20% of its locations. Other locations will continue to operate with reduced hours. Some Chase employees are being asked to work from home, while Chase notes that those still working in branches will have the protection of glass partitions and drive-up windows.
Domino's looks to hire 10,000 employees to meet increased delivery demand
As more Americans stay -- and eat -- at home because of the coronavirus outbreak, Dominoes is looking to hire as many as 10.000 new employees nationwide.
The pizza chain said it's looking for "delivery drivers, pizza makers, customer service representatives, managers and licensed truck drivers for its supply chain centers."
As many restaurants face hardship over the shuttering of their dine-in establishments, Domino's attributes 55% of its total orders to delivery, allowing it to take advantage of the upswing in consumers ordering meals to eat at home.
"Our corporate and franchise stores want to make sure they're not only feeding people, but also providing opportunity to those looking for work at this time, especially those in the heavily-impacted restaurant industry," said Domino's CEO Ritch Allison in a statement.
Take a look at more stories and videos by Michael Finney and 7 On Your Side.
