Filing date

The Mid-Tax Season Update

This has already been a complex year, and it’s only March. Here are some of the major changes. FILING DEADLINES:  For individuals and businesses in Texas, income tax returns which are normally due on March 15th and April 15th are automatically extended until June 15th this year as a result of the Presidentially-declared natural disaster …

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First Train Wreck of 2021 Individual Filing Season (and it’s a big one!)

The First Train Wreck of 2021 Filing Season (A Big One)  Tucked away on line 30 (page 2) of your 2020 return (due April 15, 2021) is the reconciliation of the advance payments you may have received last year. It’s going to generate a lot of headaches this year. Remember the $1200 per adult and …

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Filing date is now extended to July 15, but please note the following

Treasury Secretary Mnuchin announced this morning (March 20, 2020) that the filing date for 2019 individual tax returns has been moved to July 15, 2020. You will not incur penalty or interest if the return is filed and paid by then. It appears that C corporations for calendar year 2019 are included in this announcement. …

Filing date is now extended to July 15, but please note the following Read More »

Coronavirus update – March 17, 2020

In a press conference on March 17, 2020, Treasury Secretary Steven Mnuchin announced that individuals and corporations can delay their income tax payments for the 2019 filing year for 90 days due to the coronavirus pandemic. During that time, the IRS will not charge interest or penalties. Limitations: Individuals can defer up to $1 million …

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