The IRS today, March 17, announced that they will postpone the April 15 tax-payment deadline, giving Americans another 90 days to pay their 2019 income tax bills. During this 90 day timeframe, interest and penalties will be waved. This applies to individuals who owe less than $1 million and corporations that owe less than $10 million.
Please note, if you are a client of Summit’s, this delay does not necessarily impact the timeliness of your tax return being prepared. Our offices remain fully functional, even as some of our team preparers work from a virtual office space. Your tax return remains on the same completion schedule as before unless otherwise communicated to you directly.