How Does COVID-19 Affect Tax Filing?

While we are now in full swing of tax season, society has been abruptly interrupted from our everyday affairs to address and prepare for the concerns surrounding the Coronavirus “COVID-19.”  Based on the information we learned today we anticipate that the IRS will announce a deferral of tax payment for 90 days or longer.  The deadline to file a 2019 tax return remains Wednesday, April 15, 2020, and if you need more time to prepare your return, you will need to file an extension.  If you are due a refund, the IRS anticipates that they will process your return and get your refund out to you as soon as possible.  They strongly encourage people to file their tax returns electronically and choose direct deposit for faster refunds.  View the full schedule on when you can anticipate your return based on your filing acceptance date.

For the most up-to-date information on COVID-19, please visit the Centers for Disease Control and Prevention for health information.  For information regarding the virus and governmental actions visit https://www.usa.gov/coronavirus and for other financial related information, you can visit the Department of Treasury.

It is our desire at CPA Solutions that you and your family remain safe and healthy, so we will not be making face-to-face appointments.  However, our client portal is available for you to safely and securely upload your tax documents from the comfort of your home and we are scheduling phone and video meetings.  Please call or email us at 407-650-9088 or email us Info@MyCPASolutions.com with any questions.