2019 Tax Year Filing and Pmt Updates

03.20.2020

IRS announced that it has extended the Deadline to file Individual Tax Returns

The New Deadline is July 15 2020.

Our assumption at this time is that all states will make the same adjustment.

03.18.2020

The IRS announced that taxpayers can delay paying their income taxes up to 90 days.  As such, any amounts due would not be considered late until after July 15 2020 and therefore not be subject to any penalties and interest until after the 90 day delay period.  Our understanding is that this relief ONLY APPLIES to INCOME TAX and does not yet apply to any other tax such as employee or employer payroll tax, etc.

Our understanding is that Tax Deadlines have not changed.  Taxpayers must either file their individual tax return or file an extension for their individual tax return by April 15.  

The State of Arkansas has not announced any such relief program as of this date.

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