Due to the Coronavirus outbreak, President Trump and Treasury Secretary Mnuchin pushed the 2019 tax filing and payment deadlines back to July 15, 2020.
The deadline push-back previously allowed individual taxpayers who owe less than $1,000,000 and corporations who owe less than $10,000,000 to defer filing extensions and paying their tax until July 15, 2020 without penalties. The final regulations eliminate these two limits, so any taxpayers owing any amounts can defer payment without filing an extension or incurring penalties or interest.
This deadline push-back allows taxpayers who owe first quarter estimated tax payments to defer the payments until 7/15 without incurring penalties and interest. Second quarter estimated tax payments must still be paid by 6/15 unless subsequent guidance is released.
Pitcher, Enders, and Drohan is committed to continuing to provide excellent service during this unprecedented time. We have implemented a business continuity plan that allows our staff to continue working remotely if we are compelled to close our office. Right now, we are open to the public.
If you have any questions, please call or e-mail us.