Updates on tax filing and tax due deadlines and our firm working from home

On March 17, 2020, the US Treasury Secretary announced that individual taxpayers are getting a 3-month extension to pay their 2019 tax returns by July 15, 2020.  Interest and penalties will be waived during this time.  This delay is available to people who owe $1 million or less with their Federal return.  (As well as corporations that owe $10 million or less.) 

Taxpayers must still continue to file their returns (or their requests for automatic 6-month extensions) by April 15, 2020.

In addition, different states are rolling out different guidelines for the timing of their state's filings and payments due. 

As we mentioned in a prior distribution, our Team is working from home.  The office is closed.  We do have a mail slot in our door that you can drop things through to get to us (although we don't know how timely we'll be able to respond to receiving information this way; getting us information via electronic means is the best way).  We've worked from home before during Tax Season in dealing with snowstorms.  We've done this before and we're ready to continue serving our clients.

If you have any questions about your tax returns, please let us know.  We are managing these challenging times like everyone else is and we are confident that we will all get through this.

Thank you.

- The Team at Sechrest & Bloom, LLC