Covid-19 Income Tax Relief Provisions:

1. Individual and business tax returns normally filed on 4/15 have been automatically extended until 7/15/2020. No additional paperwork or process is needed

2. Regardless of amount owed, individual and business income tax payments normally due on 4/15 have been extended until 7/15/2020. This includes any payments for first quarter 2020 estimated tax payments that would normally have been due.

3. Please watch for any updates surrounding extension of time for any 6/15 estimated tax payments. At this time we are not aware of other extensions outside of the 4/15 extension that has been granted.

4. Most states are following suit with the federal government guidelines for an automatic three-month extension of time to file and to pay.

5. Our firm still encourages filing tax returns by 4/15 if possible but we understand that this may not be feasible under the circumstances. If you file before 7/15/2020 and you owe taxes, you are still granted relief to pay any taxes owed on the 2019 tax filing.

6. There has been no extension of time to pay non-income related tax liabilities such as payroll and excise taxes.

For further information on this topic please visit http://www.irs.gov/coronavirus