Taxpayers need to file by July 15,2020

Taxpayers need to file by July 15th or file an automatic extension See Link for more information: https://www.cnbc.com/2020/05/29/house-bill-eases-rules-around-how-small-businesses-can-use-ppp-funding.html

Coronavirus Tax Deadline Extension: Payments Now Due July 15

The tax-filing deadline is still April 15, but the IRS will waive penalties and interest on tax payments for 90 days. See the articles here: https://www.investors.com/etfs-and-funds/personal-finance/coronavirus-tax-deadline-payments-now-due-july-15/ https://www.businessinsider.com/personal-finance/irs-to-extend-tax-filing-deadline-why-file-taxes-now-2020-3

Tax refunds are going to be delayed for filers claiming these tax credits

Millions of households that hustled to get their tax returns to the IRS early could be waiting until sometime in March for their refunds. If you’re claiming the additional child tax credit or the earned income tax credit, the IRS cannot issue your refund before mid-February. An anti-fraud law requires the agency to use that[…..]

Year End Bonuses: What you need to know

If your one of the lucky ones that gets a year-end bonus, you want to make sure you understand the tax consequences. By deferring this income into 2020, it could help you limit the tax hit for 2019. Check out this article to get more information: https://www.cnbc.com/2019/11/20/how-to-keep-a-tax-bomb-from-blowing-up-your-holiday-bonus.html