Making Finances Simple. Changing Lives.
A lot has changed with our world in just a few weeks.
We wanted to provide you the following updates as it relates to your taxes and the government stimulus package that was just signed last Friday.
How We’re Doing Our Part...
We’re well setup to handle your full tax needs remotely; no physical meetings required. And we’re also still available to take drop-offs at our office. Feel free to contact us with any questions about how we’re handling tax returns seamlessly in the midst of this crisis.
Tax Filing Updates
Filing and payment dates have been adjusted in response to the Coronavirus pandemic, as follows.
The IRS has pushed the filing deadline for tax returns, from the usual April 15th, back to July 15th. Most states, including CA, have conformed to this filing date adjustment.
The date for paying tax liabilities has also been pushed back by the IRS, as well as most states.
It’s assumed all states will be conforming to this new July 15th date for 2019 tax year filings.
The 1st quarterly estimated payments for those required to make estimated payments has also been pushed back to July 15th.
Why You Should Still File As Soon As You Can
CARES Act (The Coronavirus Aid, Relief, and Economic Security Act)
The CARES Act that was signed into law this past Friday provides several changes you’ll want to know about.
Recovery Rebates (stimulus payments)
The above is not an exhaustive list of changes, but the main items that would likely apply to most folks.
Also, click here to access the IRS.gov site that provides updated details as they’re unveiled.
Contact us any time with questions…we’re here to help!
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