Please note that this blog is based on laws effective March 17, 2020 and may not contain later amendments. Please contact Cray Kaiser for most recent information.
There has been much speculation surrounding the impact of the Coronavirus (COVID-19) pandemic on the U.S. tax filing deadline. At a Tuesday White House briefing, Treasury Secretary Steven Mnuchin announced new relief measures that are effective immediately.
The Internal Revenue Services (IRS) has extended the tax payment deadline for 2019 income taxes for individuals who owe up to $1 million and corporations that owe up to $10 million.
Eligible taxpayers can defer payment for up to 90 days without accruing interest or penalties. This puts the new tax payment deadline at July 15. As of now, the tax filing deadline remains April 15, though this could still change. Regardless of a change in deadline, our firm will continue to operate with the goal of completing tax filings without relying on extensions.
We remain on alert to any news about this situation. If the IRS announces a filing extension, we will contact you as soon as possible. It is expected that many states will follow suit in granting similar payment relief. We will be sure to keep you informed of any new updates at both the federal and state levels.
In the meantime, please do not hesitate to contact us with any questions you have regarding these circumstances. We will continue to work diligently to provide the services you count on from our team.
CK OFFICE OPERATIONS
These are certainly trying times and we want to reiterate that Cray Kaiser is here for you. As things continue to evolve in light of the COVID-19 pandemic, we at CK are taking additional precautions for the benefit of our team members and our clients.
- No clients or guests will be allowed in our suite.
- All in-person meetings are cancelled. Instead, we will be utilizing phone calls and/or email to communicate with our clients.
- Our team members are being encouraged to work remotely. All staff are equipped with the appropriate technology and resources to continue to securely and confidentially serve you from home.
- We will no longer have in-person drop offs of accounting/tax data. Instead, please drop off any packages outside the office door of our suite in the box provided.
- All paper files, tax returns etc. will no longer be mailed by our office to you. We will be holding these items in our office to send to you at a later date.
CK PORTAL ACCESS
We want to remind our clients of our portal access and your ability to safely and securely share your information with our team. We ask that you email firstname.lastname@example.org to request your portal access. This will eliminate the need for you to drop off your tax information at our office.
Thank you for your patience and understanding during this challenging time. We wish you, your family, and your business health and safety. We will continue to support you as best as we can while keeping each other’s health a priority. If any changes occur during the course of the next few days, we will update our website.