diff --git a/pandas/io/common.py b/pandas/io/common.py
index 290022167e520..a505f28982aeb 100644
--- a/pandas/io/common.py
+++ b/pandas/io/common.py
@@ -9,6 +9,7 @@
 import mmap
 import os
 import pathlib
+from pathlib import Path
 from typing import (
     IO,
     Any,
@@ -21,6 +22,7 @@
     Tuple,
     Type,
     Union,
+    overload,
 )
 from urllib.error import URLError  # noqa
 from urllib.parse import (  # noqa
@@ -140,9 +142,33 @@ def _validate_header_arg(header) -> None:
         )
 
 
-def _stringify_path(
-    filepath_or_buffer: FilePathOrBuffer[AnyStr]
-) -> FilePathOrBuffer[AnyStr]:
+# Overload *variants* for '_stringify_path'.
+# These variants give extra information to the type checker.
+# They are ignored at runtime.
+
+
+@overload
+def _stringify_path(filepath_or_buffer: Union[str, Path]) -> str:
+    ...
+
+
+@overload
+def _stringify_path(filepath_or_buffer: IO[AnyStr]) -> IO[AnyStr]:
+    ...
+
+
+# The actual *implementation* of '_stringify_path'.
+# The implementation contains the actual runtime logic.
+#
+# It may or may not have type hints. If it does, mypy
+# will check the body of the implementation against the
+# type hints.
+#
+# Mypy will also check and make sure the signature is
+# consistent with the provided variants.
+
+
+def _stringify_path(filepath_or_buffer: FilePathOrBuffer):
     """Attempt to convert a path-like object to a string.
 
     Parameters
@@ -188,6 +214,42 @@ def is_gcs_url(url) -> bool:
         return False
 
 
+# Overload *variants* for 'get_filepath_or_buffer'.
+# These variants give extra information to the type checker.
+# They are ignored at runtime.
+
+
+@overload
+def get_filepath_or_buffer(
+    filepath_or_buffer: IO[AnyStr],
+    encoding: Optional[str] = None,
+    compression: Optional[str] = None,
+    mode: Optional[str] = None,
+) -> Tuple[IO[AnyStr], Optional[str], Optional[str], bool]:
+    ...
+
+
+@overload
+def get_filepath_or_buffer(
+    filepath_or_buffer: Union[str, Path],
+    encoding: Optional[str] = None,
+    compression: Optional[str] = None,
+    mode: Optional[str] = None,
+) -> Tuple[Union[str, IO], Optional[str], Optional[str], bool]:
+    ...
+
+
+# The actual *implementation* of 'get_filepath_or_buffer'.
+# The implementation contains the actual runtime logic.
+#
+# It may or may not have type hints. If it does, mypy
+# will check the body of the implementation against the
+# type hints.
+#
+# Mypy will also check and make sure the signature is
+# consistent with the provided variants.
+
+
 def get_filepath_or_buffer(
     filepath_or_buffer: FilePathOrBuffer,
     encoding: Optional[str] = None,
@@ -213,10 +275,10 @@ def get_filepath_or_buffer(
               compression, str,
               should_close, bool)
     """
-    filepath_or_buffer = _stringify_path(filepath_or_buffer)
+    fp_or_buf = _stringify_path(filepath_or_buffer)
 
-    if isinstance(filepath_or_buffer, str) and _is_url(filepath_or_buffer):
-        req = urlopen(filepath_or_buffer)
+    if isinstance(fp_or_buf, str) and _is_url(fp_or_buf):
+        req = urlopen(fp_or_buf)
         content_encoding = req.headers.get("Content-Encoding", None)
         if content_encoding == "gzip":
             # Override compression based on Content-Encoding header
@@ -225,28 +287,28 @@ def get_filepath_or_buffer(
         req.close()
         return reader, encoding, compression, True
 
-    if is_s3_url(filepath_or_buffer):
+    if is_s3_url(fp_or_buf):
         from pandas.io import s3
 
         return s3.get_filepath_or_buffer(
-            filepath_or_buffer, encoding=encoding, compression=compression, mode=mode
+            fp_or_buf, encoding=encoding, compression=compression, mode=mode
         )
 
-    if is_gcs_url(filepath_or_buffer):
+    if is_gcs_url(fp_or_buf):
         from pandas.io import gcs
 
         return gcs.get_filepath_or_buffer(
-            filepath_or_buffer, encoding=encoding, compression=compression, mode=mode
+            fp_or_buf, encoding=encoding, compression=compression, mode=mode
         )
 
-    if isinstance(filepath_or_buffer, (str, bytes, mmap.mmap)):
-        return _expand_user(filepath_or_buffer), None, compression, False
+    if isinstance(fp_or_buf, (str, bytes, mmap.mmap)):
+        return _expand_user(fp_or_buf), None, compression, False
 
-    if not is_file_like(filepath_or_buffer):
+    if not is_file_like(fp_or_buf):
         msg = "Invalid file path or buffer object type: {_type}"
-        raise ValueError(msg.format(_type=type(filepath_or_buffer)))
+        raise ValueError(msg.format(_type=type(fp_or_buf)))
 
-    return filepath_or_buffer, None, compression, False
+    return fp_or_buf, None, compression, False
 
 
 def file_path_to_url(path: str) -> str:
diff --git a/pandas/io/parsers.py b/pandas/io/parsers.py
index a3ff837bc7f52..d790c8bb08597 100755
--- a/pandas/io/parsers.py
+++ b/pandas/io/parsers.py
@@ -458,7 +458,7 @@ def _read(filepath_or_buffer: FilePathOrBuffer, kwds):
     finally:
         parser.close()
 
-    if should_close:
+    if should_close and not isinstance(fp_or_buf, str):
         try:
             fp_or_buf.close()
         except ValueError: