The market can be volatile, but don’t panic … it’s not time to be a gambler. While you may be tempted to sell off your assets after watching the market go down one day and up the next, resisting the urge to panic will likely serve you best in the long run.
In times of confusion and uncertainty, it’s important to find a good source for information. I’ve received many summaries from various sources about the effect of IRS Notice 2020-18, which delayed some, but not all, tax filing deadlines. For those of us in planning and estate administration, the deadlines for gift and estate tax returns are not extended, but the deadline for Form 1041 (Income Tax Returns for Estates and Trusts) is extended.