COVID-19 Client Resources and Updates
Client Alert (Update) – Tax Filing and Payment Due Date Delayed by Treasury Department
Given the fast moving nature of the federal government’s responses to the Covid-19 pandemic, we already have one update to the Tax Filing and Payment Advisory we published on Friday.
The Treasury Department has now removed the cap on the amount of tax payments (formerly $1 million for individuals and $10 million for corporations) that can be postponed until July 15, 2020 without interest or penalty, so there is now no limit on the dollar amount of the deferral.
We will continue to update you as further developments warrant, but if you have any questions or would like to discuss these changes further, please do not hesitate to contact Scott McClure with Wiggin and Dana Tax.
Visit Wiggin and Dana’s COVID-19 Resource Center here for additional publications and helpful links on multi-disciplinary topics that are relevant during the current COVID-19 global pandemic.
