On Friday March 20, it was announced by Treasury Secretary Steven Mnuchin that Tax Day has been postponed from April 15 to July 15 to coincide with the delayed tax payment deadline at the direction of President Trump.
All taxpayers and businesses will have until July 15 to file and make payments without interest or penalties. Taxpayers expecting refunds are still encouraged to file as soon as possible to ensure a timely and maximum refund.
We are awaiting further guidance from the IRS and will keep you informed as this and other legislation continues to unfold over the coming weeks. Please call us if you have questions or concerns.
Receive Free financial tips & Tax Alerts!
"*" indicates required fields
Businesses usually want to delay recognition of taxable income into future years and accelerate deductions into the current year. But when is it wise to do the opposite? And why…
Navigating the realm of capital gains and optimizing tax outcomes require strategic thinking and informed decision-making. Understanding and employing effective capital gains tax strategies is crucial for businesses contemplating asset…
If your business doesn’t already have a retirement plan, it might be a good time to take the plunge. Current retirement plan rules allow for significant tax-deductible contributions. For example,…