2020 Estimated Tax Payment Change of Due Date Reminder
Dear Valued Clients and Friends,
Since our last update on 4/1/2020 regarding the Individual and Fiduciary Federal Estimated Tax Payment deadlines, the Treasury department has extended them once again.
Besides the April 15 estimated tax payment previously extended, the IRS’ notice also extends relief to estimated tax payments due June 15, 2020. This means that any individual or corporation that has a quarterly estimated tax payment due on or after April 1, 2020, and before July 15, 2020, can wait until July 15 to make that payment, without penalty.
At this time, neither the third or fourth quarterly Individual or Fiduciary Federal estimated tax payments for 2020 have been extended. So, until such time that we are directed otherwise, those payments will be due on the following scheduled dates:
First Quarter Estimated Payment – July 15, 2020
Second Quarter Estimated Payment – July 15, 2020
Third Quarter Estimated Payment – September 15, 2020
Fourth Quarter Estimated Payment – January 15, 2021
If you also pay Individual or Fiduciary State Income Tax estimated payments, the states are setting their own schedules for the payment due dates which may differ from the Federal due dates. Please consult the states for the specific filing requirements or contact our office.
As noted in previous messages, although our staff are working remotely during this Stay Home, Stay Healthy period, we continue to strive for timely and efficient completion of your important tax and financial reporting requirements.
Please contact us with any questions you might have.
Sincerely,
David D. Hawthorne, CPA
President
** This information is provided for general educational purposes only. Before taking any action based on this information, we strongly encourage you to consult with a professional accounting advisor about your specific situation.