fbpx
Blog Post

Tax Returns Extended

Twitter, news headlines and the President just said taxes are going to be extended to July 15th 2020. Guidance has been issued confirming that taxes and tax returns due 4/15/2020 are extended to July 15th, 2020.

Will you still prepare our tax return by April 15th?

It depends on when you sent in your information/organizer: we are still working – just not so frantically; we are working through the queue in the order we received completed organizers.

As you can imagine right now the stress levels are really high. We are still working and will keep working, but we will be reducing our daily goals for returns out the door to try to reduce stress on everyone. Just like you, coronavirus has had an impact on our team. We have kids, and spouses working from home, which does make it harder to get things out the door. 

We are working through the queue in the order things came in. There are a few small businesses we have that are getting loans so we are rushing those returns. Otherwise, your return will get done, in the order received. 

If any team members get sick, at that point we will have to scale back on timelines and you will get more updates from us.

The general timeline is as follows:

Info in before March 6th – should be done by April 15th

Info in on March 6th – it will depend on capacity

Info in after March 6th – after April 15th, the goal is all of them done by the end of May

New clients coming in the door today: After June 15th

Traditional IRA, and Roth IRA contributions have not been extended.

These contributions must be made by 4/15/2020.

SEP-IRA contributions need to be made before we file the return so you have plenty of time.

Resources:

WA Unemployment page

Resources for small business

We here at TL;DR accounting are supporting our employees and our clients by balancing work with stress in these unprecedented times. If you have any questions about the work we are doing for you, e-mail us and we will get back to you as soon as possible. We wish the best for each of our clients and their families, and encourage you to be safe and healthy. We appreciate your business and will continue to update you as the situation changes.

Best,

Toni & Team

Related Posts