Treasury Secretary Steven Mnuchin announced there would be a 90-day reprieve for taxpayers to file and pay their income taxes owed.
This is one measure the federal government is enacting in order to curb the economic fallout from the coronavirus (COVID-19) outbreak here in the US.
This will give American taxpayers three additional months than they normally would have to file their income tax returns for the 2019 tax year.
There are many moving pieces to this bit of news, and we wanted to make sure you had all the necessary information before making any decisions about your tax return.
In addition, there is fiscal policy legislation that will provide relief to many taxpayers and business owners. Please follow our blog and social media feeds to get the latest updates. Feel free to contact our office virtually or via phone to discuss any questions or concerns you may have.
As always, we are here to support you, your loved ones, and your financial interests during this hectic time.