Details and guidance seem to be unfolding hourly. Today we learned that the Federal government will give taxpayers a three-month extension of time to pay their 2019 taxes. However, the Feds did not provide a reprieve on the April 15th due date to file your tax returns.
So, what does that mean to you and what approach should you take for completing your 2019 taxes?
As has always been the case, an extension to file will be available. Further, while an extension to file has not ever been an extension to pay, taxpayers will now have an additional 90 days to pay their federal taxes.
As part of Governor Newsom’s March 12th Executive Order, California has extended the due date and time to pay by 60 days for individual taxpayers. Quarterly estimated tax payments normally due on April 15th are now due June 15th.
The Gilbert team is working to help you navigate through these times of uncertainty. Our recommendation is that you continue to submit your tax work as you normally would. If an extension is beneficial or necessary for you, we’ll help you complete the necessary documents. If payment deferral is necessary, we’re here to help. If you have a refund coming, good news, we are here to prepare your returns and help you get them filed timely so that you get your refunds quickly.
In this time of unprecedented uncertainty, we are here for you, monitoring the changes daily. If we can help, please give us a call or send us an email – Relax, We got this.