I hope this newsletter finds everyone and their families safe and healthy. Below are some updates that I want to make you aware of;
- The due date for filing the below tax returns and their related tax liabilities have been extended to July 15, 2020. No extensions need to be filed.
- 1040 – Individual Income Tax Return
- 1041 – Fiduciary Income Tax Return
- 1120/1120S – Corporation Income Tax Return
- 1065 – Partnership Income Tax Return
- The deadline for 2019 IRA and H.S.A. contributions have also been extended to July 15, 2020. It is expected that SEP IRA and other retirement contribution due dates will also be extended.
- 1st Quarter 2020 Federal, State and Local quarterly tax estimates have also been extended to July 15, 2020.
- There is no extension of due dates for payroll tax returns, excise tax returns, other informational returns and 2nd quarter 2020 quarterly estimated payments.
- As a firm, our immediate priority is to help our business customers evaluate and apply for various government relief programs to help them through this difficult time. Consequently, the filing of some of the above tax returns will be delayed until after April 15, 2020.
- This Friday, April 10th, our office will close at 1 PM in observance of Good Friday.
In difficult times, our greatest strength has come from pulling together – working shoulder to shoulder – to generate the ingenuity, resilience and tenacity that solves problems and creates opportunities.
We’ll overcome this crisis, too, I have no doubt.
But we have to stay connected…even as we socially isolate. That’s why you’ll be hearing regularly from me and my team while this volatility lasts - by phone, email, online meetings, more phone calls… it’s critical we stay in touch.
I’ll be in touch next week with additional updates. Stay safe and healthy!