COVID-19 and Taxes
As you know, we are in uncharted territory with this virus affecting our entire community. We wanted to inform you of our protocols and processes during this time.
Our offices are open. We are taking all necessary precautions to prevent the spread of this virus. Below are some things that we are doing:
Some staff are working from home.
We are socially distant within our offices - maintaining more than six feet of separation.
Workstations are being wiped down multiple times a day.
We are washing our hands and using hand sanitizer constantly.
The conference room is being wiped down between meetings and meetings are being spaced out.
With all of that said, we are also requesting a few things from our clients. Please see below:
If you are dropping off your packets, please place them in the box in front of the reception desk. We are not touching those files for 3 days before logging them in.
We are encouraging our clients to either mail their information in or use our online portals to upload information.
We are also trying to limit in-person meetings. Please consider a phone meeting where possible.
In terms of delivery of your completed return, if you would like us to mail you your packet rather than coming to our offices, we will make that happen. We are also encouraging receiving electronic copies of your return through your portal.
IRS Deadline Extension
The IRS has extended payment of taxes, eliminating the late payment and interest penalty. However, the filing deadline has not changed, so you still need to file (or extend) by April 15th, but payment isn't required for 90 days.
The 90 day extension from the IRS is for personal liabilities of up to $1M and corporate liabilities of up to $10M.
We have not seen any extension of time to make the 2020 first quarter payment that is due on 4/15/20. We will keep you posted if that changes.
Missouri just changed their policy yesterday to follow federal - 90 days to pay extension, but filing deadline (or extension) is still 4/15.
As of this email, Kansas is NOT following federal. We will let you know if that changes.