According to most scholars, zakat may be paid in advance to mitigate the current coronavirus-related crisis (although some scholars have set additional conditions, the Prophet ﷺ permitted Abbas (r.a) to pay zakat in advance (Tirmidhi narration). The wisdom and benefit of this are undeniable; conditions and circumstances in the world constantly change, needs arise unexpectedly, and help may be needed at any time of the year.
Zakat paid in advance enables the faster distribution of zakat funds (to those in need) in emergency situations. Zakat is a financial tool with strong economic incentive and profound social impact, and is of great importance as a fund for human development. When zakat is applied in emergency situations and at times when need is greatest, its impact is very significant.
Anyone who would normally pay zakat in the third or fourth quarter of the year can contribute to helping the world emerge more quickly from the difficulties of the current COVID-19 emergency by paying their zakat in advance*. Of course, it is important that the zakat payer recalculates when the zakat payment period arrives to ensure that zakat was calculated correctly**. And finally, an important reminder: Do not limit yourself to zakat — it is only 2.5% of your wealth!
Mufti Faraz Adam, Executive Director of Amanah Finance Consultancy (United Kingdom)
Source: https://www.linkedin.com/feed/update/urn:li:activity:6650277155861209088/
* Similar to how most of our people pay zakat during Ramadan for additional reward even if the payment deadline has not yet arrived;
** In our view, people may pay the larger portion of their annual zakat now, and the remainder when the payment time arrives, after recalculating.