The U.S. government will postpone the April 15 tax-payment deadline for millions of individuals, giving Americans an additional 90 days to pay their 2019 income-tax bills in an unprecedented move intended to ease the economic pain inflicted by the coronavirus. The IRS, using authority under President Trump’s national-emergency declaration, will waive interest and penalties as well, Treasury Secretary Steven Mnuchin said at the White House on Tuesday. The delay is available to people who owe $1 million or less and corporations that owe $10 million or less, he said.
Due to the increased risk of exposure to the COVID-19 virus we are temporarily closing our office until April 1, 2020. We will be filing extensions for all tax returns even though the Department of Treasury has extended payment dates until July 15th. We’ll be monitoring emails and voice messages remotely but no staff will be in the office. We will be sending out email alerts as the situation warrants informing clients & associates of changes in the situation. This measure will delay the preparation of all tax returns until we are able to be back in the office and resume normal business hours. Our goal is to have all returns prepared by the end of April 2020 even with this delay.
We are taking these steps in an abundance of caution for the good health and well-being of staff and our clients. We want to do whatever we can to minimize the risk that this virus will spread to more people in the community.
Please take care of yourselves during the pandemic. Once we all safely get through this, we will have much to celebrate.
Your team at Honeck O’Toole