Dear Valued Clients and Friends,
The Treasury department has extended filing and payments dates to July 15, 2020 for nearly all Federal tax filings and payments normally due on April 15, 2020. We understand, with the extended tax filing and payment deadlines from April 15th to July 15th, there has been some question about the impact this will have on the Individual or Fiduciary Federal Estimated Tax Payment deadlines. We recently received clarification about these dates.
If you will be making Individual or Fiduciary Federal Estimated Tax payments for 2020 with a payment deadline of April 15, 2020 for the first payment, this due date has been extended to July 15th.
At this time, none of the other 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 – June 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 a previous messages, although our staff are working remotely during this Stay Home, Stay Healthy period of time, 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.