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Official Treasury Department and Internal Revenue Service Announcement:
“R-2020-58, March 21, 2020 - WASHINGTON — The Treasury Department and Internal Revenue Service announced today that the federal income tax filing due date is automatically extended from April 15, 2020, to July 15, 2020.
Taxpayers can also defer federal income tax payments due on April 15, 2020, to July 15, 2020, without penalties and interest, regardless of the amount owed. This deferment applies to all taxpayers, including individuals, trusts and estates, corporations and other non-corporate tax filers as well as those who pay self-employment tax.
Taxpayers do not need to file any additional forms or call the IRS to qualify for this automatic federal tax filing and payment relief. Individual taxpayers who need additional time to file beyond the July 15 deadline, can request a filing extension by filing Form 4868 through their tax professional, tax software or using the Free File link on IRS.gov. Businesses who need additional time must file Form 7004.”
HLMCPA’s new office procedures:
At this time, scheduled conference calls are preferred over in-person meetings. Social distancing is difficult in a face-to-face meetings. Most communications with clients can easily be conducted through email, teleconference, fax and postal and delivery services. In the event that clients do need to come to our office, we ask that a prescheduled time be set in advance. In order to do our part to combat the virus, we have required our Team to stay home and / or seek medical attention as necessary, rather than coming into our office, if they are feeling ill, exhibiting symptoms or been in obvious contact with others whom have tested positive or are exhibiting symptoms. We have also asked everyone to do their best to live a healthy lifestyle (this time of year, we usually work much longer hours and get much less sleep then we should), as that is very important to fight the virus as well.
We are totally prepared to work remotely, as necessary. We, in fact, have four Team members that have worked almost entirely remotely for over a year, and most of the rest of our Team members routinely work from home periodically as well. Our computer data processing is in a secure offsite data center and has been for years. In reality, part of our business model to retain a qualified Team has been a telecommute solution for quite some time.
How does this affect you, our valued client?
We will continue to serve our clients during this difficult time. We will continue to work on a due date priority and first in first out basis, as are our typical procedures. It may take us extra time, as we typically work twelve plus hours, six and sometimes seven days a week to meet deadlines at this time of year. We have a tremendous amount of work in process at this time, so this may add a week or so (and in some cases more) to the normal turn-around time. We simply ask that our clients be aware that we are working on your projects. We will NOT put you in a position where something is not filed timely. With that said, please note the new developments on due dates for filing returns and extensions and making payments to the IRS.
ALL filings AND payments that were due 4/15/2020 are now due 7/15/2020. This includes 1040 ES payments for 2020 normally due April 15th and June 15th. Payments due and not paid by 12/31/2019 are still subject to penalties and interest. As we are sure is the case with most of our clients, overwhelmed does not begin to describe our days right now. Between tax season, IRS uncertainties, and COVID-19 related responsibilities to our clients, families, businesses and Team members, we are experiencing significant delays, BUT plan to continue to work as close to normal business hours as is possible. As the World, the Nation and our Local community continue to experience unprecedented times with the COVID-19 outbreak, we as a firm are being affected as well. As with all organizations, the health and safety of our families, Team and clients will be our first priority.
We thank you for your understanding, and certainly for your business.
Hanna, Lemar & Morris, CPA’s
IRS Coronavirus Tax Relief
COVID-19 Economic Injury Disaster Loan Application
US Chamber of Commerce Combating the Coronavirus
US Senate Committee Guide to the CARES Act
Rebuild Florida Business Recovery