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2020 IRS Tax Payments Extended by 90 Days: No Interest or Penalty
March 19, 2020 2:15 PM
By: Mark Kohler Taxpayers and business owners received a much needed lifeline yesterday from the Treasury and IRS in response to the Coronavirus outbreak. Individual taxpayers will get a three-month (90 day) extension to pay income taxes they owe for 2019, typically due on April 15th, but will now have until July...
Tax Extensions Save Clients Money
April 4, 2019 6:13 AM
For many tax preparers, April 15 seems to roll around earlier each year. But when clients seem set toowe the IRS money at tax time, a tax preparer’s failure to timely request an extension can lead thetaxpayer to incur a hefty failure-to-file penalty of 5 percent of the unpaid bill per month.Once a taxpayer is five...
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