The IRS Extended the Tax Filing Deadline from April 15 to July 15

As an update on the tax filing deadline, Treasury Secretary Mnuchin announced on Friday, March 20 that the IRS will be extending the tax filing deadline from April 15 to July 15.

Refunds are being issued.  Payment for the balance due for 2019 and 2020 1st quarter estimates can be deferred until July 15, 2020.  This applies only to payments due on April 15, 2020.

This relief applies to “any person”, which includes individuals, trusts, estates, partnerships, associations, companies and/or corporations.

The coronavirus outbreak has certainly disrupted business-as-usual activity for companies around the world.  At Sax, we continue to effectively work through tax season.

While our physical offices are closed, and in-person meetings are to be held virtually, we wanted to address how we can continue in our current situation to timely file your tax information by July 15:

  • If you have not already provided us the information we need to either complete your tax return or file an extension, please do so as soon as possible.
  • We encourage our clients to submit their tax information electronically through our secure Client Portal to remotely share files with us.
  • We encourage clients to utilize our secure SaxApp as an alternative way to submit documents by snapping and sending a picture.  Just download from the Apple App Store or Android Play Store.
  • We will continue to sort mail daily and will receive any tax information previously sent to us.  If you prefer to send information to us via FedEx or mail moving forward you may continue to do so, however, electronic submission through the SaxApp or Client Portal is preferred for speed and efficiency.

Your Sax team will be in contact with you to discuss next steps in completing year-end work.  Please feel free to reach out to your Sax partner with any questions or concerns in the interim.  We appreciate your understanding during these unprecedented times.