The IRS has extended the April 15 tax payment deadline to July 15. This means that for your 2019 tax return, even if you file after April 15 and you owe tax, there is no penalty or interest as long as it is paid by July 15.
Even though the IRS is not extending the April 15th filing deadline, there is now no rush or panic to file your tax return by April 15.
- For refunds: no effect and should be fine going forward.
- For payments: make your payment anytime up until July 15 without penalty or interest.
With this news, we are re-assessing our work schedule. Keeping the health and safety of our staff in mind we will continue to work regular business hours, however, not tax season hours. We will not be available for evening appointments/calls or Saturday appointments/calls until further notice. This may mean it will take a little longer to get your tax return back; please be patient. We are all trying to navigate these new waters. Again, there is no penalty, detriment or panic if your return is filed after April 15. We will take care of your extension automatically. There is nothing to sign or pay.
- As always, we will contact you to confirm we received your documents and we will contact you when we are ready to review, make suggestions and finalize everything.
- If we have already e-filed your return with an automatic payment date prior to April 15, 2020, we cannot change that date. Unfortunately, the payment will be processed accordingly.
- If you did not have an automatic debit set up and we gave you a voucher to be mailed in, that can now be paid by July 15.
- We have not heard if the first 2020 estimated payment date of April 15 has changed. As of now, we are urging everyone to plan on making that payment so that there are no penalties or interest for next year.
- If you have pension/retirement contributions due, since everyone will be on automatic extension, you will have until July 15th or later to make that contribution without penalty.
- We are disinfecting our office and all paperwork coming in and going out.
When there are detailed updates made available to us, we will share them with you as quickly as possible through email and our website. Please be patient. We maintain our commitment to get all returns done as timely as possible within these work constraints.
Thank you and stay safe!