The traditional tax day of April 15 has passed and millions of Americans are taking advantage of the three-month reprieve given by the federal government and many states in response to the COVID-19 pandemic. Depending on your individual circumstances, you might be looking to file as quickly as possible in order to collect your refund. On the other hand, problems accessing information or scheduling meetings with an accountant or tax preparer could push your submission closer to the revised deadline.
For filers and businesses alike, this is a necessary and welcome change, as many do not have access to their records and cannot get them while various parts of the country are in a lockdown. With the extension, you should have enough time to gather your records and pay — without penalty — at the later date. If you haven’t filed yet, you should know:
Even in the first two months since the coronavirus started causing widespread harm, numerous changes have affected personal and business taxation. For example, there is a recently announced paid sick leave tax credit which many businesses are likely to avail themselves of during this pandemic. Though no one can be sure what’s coming, a knowledgeable taxation attorney can keep you abreast of key developments.
Bever Dye, LC advises clients on a full range of matters relating to taxation. To set up an appointment about your situation, please call 316-263-8294 or contact the firm online to schedule a consultation.