I hope this finds you and your family well. I wanted to reach out to provide clarification, insight and support to you during this unprecedented challenging time.
Tax Deadline for Individuals (1040)
Federal: The United States Treasury Department and Internal Revenue Service announced this weekend that the federal income tax filing due date is automatically extended from April 15, 2020, to July 15, 2020. Taxpayers can also defer federal income tax payments to July 15, 2020, without penalties and interest, regardless of the amount owed. Taxpayers do not need to file any additional forms or call the IRS to qualify for this automatic federal tax filing and payment relief.
The IRS urges taxpayers who are owed a refund to file as quickly as possible. For those who can’t file by the July 15, 2020 deadline, the IRS reminds individual taxpayers that everyone is eligible to request an additional three-month extension to file their return. Extension requests to the IRS are also due by July 15, 2020. Failure to file penalties continue to apply. Any “Failure to File” penalty for taxpayers who owe tax and fail to file a timely tax return or extension request by July, 15,2020 will not be waived by the IRS.
States: Please note, the above tax filing and payment information is only for the Federal Form 1040 portion of the individual income tax return. The Connecticut Department of Revenue Services also announced this weekend that the filing and payment deadline for personal income tax returns is extended to July 15, 2020. The New York State Department of Taxation has NOT extended the filing and payment deadline for personal income tax returns as of yet. It is expected that states will adjust due dates for filing and payment of state income taxes to align with the Internal Revenue Service, but we will keep you posted as there are more developments amongst the states.
What you can expect from Smeriglio Associates
We are at the office working normal tax season business hours in order to provide our clients the support they need. Although we’re presently at the office, we’re hoping to do our part to flatten the curve by minimizing visitors, therefore our office is closed to visitors. Despite minimizing physical interaction, you can give us a call, or shoot us an email or text message. We want you to feel heard, informed and as connected to us as you normally would be.
In short, it’s business as usual for Smeriglio Associates, though you may receive frequent communication from us as tax compliance implications become available from the IRS and states.
For those of you who have provided us your 2019 tax source documents, we will automatically mail your completed tax returns and information to you unless you instruct us that you’d prefer it via email or your portal. We are available to walk through your return with you virtually & telephonically, once the documents have been delivered to you.
For those of you who have not provided us your 2019 tax source documents, we urge you to send us your tax information despite the federal deadline extension to July 15th. We encourage you to provide us your tax information, so that we can prepare a draft of your tax return. Using this draft, we can provide you the insight needed to plan for your tax payment due in July. If applicable, and you’re eligible for a refund from one taxing authority, you’ll be capable of strategizing any tax payments to other taxing authorities due in July using that refund.
The below options are available to you in order to send us your tax information:
- You can drop off your documents to our office in the secure black mailbox to the left of our entrance door from our parking lot. We check this mailbox regularly throughout the day.
- You can electronically access and upload your documents through our electronic portal. Please refer to our tutorial videos linked here on how to access our portal and how to use the electronic tax organizer.
- You can fax your documents to (203) 422-2453.
- You can email your documents to firstname.lastname@example.org.
- You can mail your documents to 108 River Road, Cos Cob, CT 06870.
We appreciate your understanding during this unparalleled time. We are always available for any and all questions. Thank you for your understanding and be well!
All my best,
Michael J. Smeriglio III, CPA