Whilst the current environment is rapidly changing, the IRS today have announced a 90 day extension of time to pay tax for 2019 (usually due by 15th April).
The move as been announced as part of the government’s response to COVID-19.
This will affect individual and small business filers, who will now be able to defer up to $1m (USD). Ordinarily, late payment interest and penalties would apply.
Please note, this does not extend the time to file returns (15th June for taxpayers living overseas). As it stands, this is currently only a change on the federal side, however most states are expected to follow suit soon.
The information above is current as of 2pm NZT, 18th March 2020. We will endeavour to provide further updates as they arise.
For our current and new clients, we are currently receiving a large volume of client enquiries, and please ask you to bear with us. Our current response time is 1 business day or sooner.
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