As the Coronavirus (COVID-19) pandemic continues to unfold, AAFCPAs has received many e-mails and phone calls.
Treasury Secretary Steven Mnuchin announced today, March 20th, 2020 that the IRS will move the national income tax filing day ahead to July 15th, three months after the normal deadline for Americans to send in their returns. The filing deadline now coincides with the federal tax payment deadline that was extended by the Treasury on Tuesday, March 17th. This is great news, as it gives all taxpayers and businesses additional time to file returns and make tax payments without interest or penalties.
We have no new information at this time from the MA Department of Revenue regarding state income tax returns and payments. The Baker Administration did announce on Wednesday that “eligible businesses would not have to remit sales, meals or room occupancy taxes for the months of March, April, and May until June 20, under new rules under development at the Department of Revenue.”
AAFCPAs will continue to approach the April 15th tax deadline as planned but we recognize that delays in preparation and filing may be inevitable. We have invested appropriately in technology and process to make this as seamless and efficient as possible for all. Learn more about What AAFCPAs Clients Need to Know >>.
The tax practice of AAFCPAs will continue to monitor communications from the IRS, the Treasury Department, and the MA DOR. We will keep you informed as changes occur or become clarified.
While we are working remotely for the most part, we encourage clients to contact us with any questions or concerns you may have.
If you have any questions please contact: David McManus, CPA, CGMA at 774.512.4014, firstname.lastname@example.org; or your AAFCPAs Partner.