Tax Deadline Moved to July 15th

Treasury Secretary Steven Mnuchin announced Friday that President Trump has directed him to move Tax Day to July 15, giving taxpayers more time to file their taxes in the midst of the coronavirus pandemic.

Earlier this week, the administration moved the payment deadline to July 15. All taxpayers now have three extra months to pay, without interest or penalties. But those expecting refunds should file as soon as possible.

Accordingly with the deadlines moved to align to July 15th there is no need file an extension.

WHAT THIS MEANS FOR YOU:

Maryland has announced that they will comply with the extended filing dates. However, please note that not all states have announced if they will comply. Therefore, for our clients impacted by this current situation we continue to monitor their status.

KatzAbosch is still working and operating to file individual and business information in a timely manner. We will continue to monitor the situation as the IRS releases more guidance.

As a reminder KatzAbosch does offer various secure electronic options to deliver documents to us during tax time. Please contact your KatzAbosch representative if you are not currently enrolled in any of our electronic file sharing systems and wish to do so. They will work with you to select the best electronic option for you. If you do not recall your KatzAbosch representative, please dial our main number: 410.828.2727 and we would be happy to connect you.

If you have questions or concerns on how this may impact your situation, please contact your KatzAbosch representative, or contact us by clicking here.

This update brought to you by: Your trusted advisors at KatzAbosch

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