tax payment extension 2020-tax advisor-tax return-CPA

After extending the April 15 deadline for income tax payment earlier in the week, Treasury Secretary Steven Mnuchin today announced that the income tax filing deadline has been extended 3 months to July 15.  This includes the extension of all income tax payments of any amount.  Please note that the filing extension applies only to federal income tax returns for now as most states – including Illinois – have not yet released any statements or guidance regarding an extension of the April 15 income tax filing and payment deadline. Individual states will need to act independently to extend the due date for filing and payment of taxes.  To date, California and Maryland have taken steps to extend the due date for their state tax payments.

Additionally, the IRS has also determined that an extension form does not need to be filed prior to April 15 in order to benefit from the additional 90 days to file a return.  However, as of now, second-quarter estimated tax payments are still due June 15, 2020

On March 20, 2020, the State of Illinois issued a shelter-in-place order effective as of Saturday, March 21, 2020, at 5:00 pm through 11:59 pm on Tuesday, April 7, 2020.  As such our offices are officially closed.  We will have at most one person stop by daily for mail and to feed the fish which appear to be the only essential functions remaining.  Fortunately, we have all the tools necessary to allow our staff to work remotely and for you to work with us from the comfort of your home using your phone, tablet and desktop computer.  In the meantime, we will continue to work on all of the electronic materials we have and continue to receive.  We request your assistance in trying to submit your documents electronically.  If you need help with this please let us know and we’ll be happy to assist.  At this time any documents mailed or dropped off at the office will be accepted but might not be able to be worked on until we physically return to the office.

If you have any questions, please don’t hesitate to reach out to your contact at The Hechtman Group Ltd.  Thanks for your patience and understanding.

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