IRS Deadline Updates
We have two pieces of information to share with you. Due to the coronavirus pandemic, most taxpayers and businesses will have additional time to file and make payments without interest or penalties.
- Earlier this week, the U.S. Treasury Department and Internal Revenue Service (IRS) issued guidance allowing all individual and other non-corporate tax filers to defer up to $1 million of federal income tax (including self-employment tax) payments due on April 15, 2020, until July 15, 2020, without penalties or interest.
- Today, Treasury Secretary Steven Mnuchin announced that the IRS has extended the 2019 tax filing deadline from April 15, 2020 to July 15, 2020. Individuals are still encouraged to file their taxes as soon as possible, especially if you are expecting a refund.
We are doing the best we can to continue ‘business-as-usual’ and provide the exceptional service you have come to expect. Our team has successfully transitioned to working remotely and is equipped to meet your needs as best we can during this fluid time.
Our website is being updated regularly with the latest information and news…IRS deadlines, SBA assistance, unemployment resources and more. Follow us on LinkedIn, Twitter and Facebook for the latest as well. We appreciate your business. And as always, we wish you and your family good health.