Article updated on 3/29/2020 to reflect changes in the State of Michigan tax deadline.
On Friday, March 20th, Treasury Secretary Steven Mnuchin announced that the federal tax filing deadline would be moved from April 15th to July 15th. On Saturday, March 21st, the Treasury announced the federal tax payment deadline for balances due with the 2019 income tax return would be moved from April 15th to July 15th. These automatic extensions apply to all individuals, trusts, estates, corporations, and any non-corporate filers with a 2019 income tax return due date of April 15, 2020.
Since these initial announcements, the Treasury has provided clarification on the applicability of these deferrals on other tax payments and Michigan has announced new deadlines as well. AHP has created a chart to summarize these clarifications. Click here to download and print the chart. Please note that each state is responsible for how it is handling deferment of deadlines.
The Treasury is encouraging those who expect to have tax refunds to file sooner. AHP is recommending that our clients continue to send us their tax information. We have systems in place that allow us to work on returns as we receive information.
Our federal, state, and local governments are working quickly in an effort to lessen the financial impact the coronavirus has put on individuals, families, and businesses. We know it can be overwhelming and confusing. In order to help you navigate through this uncharted territory, #AHP has pulled together COVID-19 related news and resources and placed it in one location on our website. www.ahpplc.com/covid-19-updates.
If you have any questions, email your AHP professional. If you don’t have their email, send one to firstname.lastname@example.org and we will direct your communication to the appropriate person.
Any accounting, business, or tax advice contained in this communication, including attachments and links to outside sources, is not intended as a thorough analysis of specific issues, nor a substitute for a formal opinion, nor was it written to be used to avoid tax related penalties.