COVID-19 & 2019 Tax Filing
We at Burke & Schindler hope you and your families are safe and healthy in the midst of the COVID-19 Crisis. These are challenging and uncertain times. In the hopes of providing some clarity, we wanted to share with you the updated filing and payment deadlines for your 2019 Income Tax Return and 2020 1st Quarter Estimated Tax Payments.
2019 Tax Return Filing and Payment Deadline
The filing and payment deadline for your 2019 Federal Income Tax Return is now July 15th, 2020.
Previously, the Treasury Department stated that the total amount of tax payment that could be deferred from April 15th to July 15th was limited to $1,000,000. As of now, we believe that limitation no longer applies, but it has yet to be confirmed by the Treasury Department.
There is currently no guidance on the 2nd Quarter 2020 Estimated Tax payments due on June 15th, 2020.
Most states are conforming with these new Federal payment due dates including Ohio. Currently, Kentucky has not announced if it is following the Federal Payment Dates.
As we all know the response to the COVID-19 is fluid. We will try our absolute best to keep you up-to-date so you can make the most informed decisions regarding your taxes and personal finances.
Please call us with any questions. We are here to help.