In response to the COVID-19 pandemic nearly every taxing authority (federal, state, and local) granted taxpayers an automatic extension of time to file and/or pay 2019 taxes. This has made the 2020 tax season… interesting. As we approach June 15, which is typically the date second quarter estimated tax payments are due for most taxing authorities, many are wondering if they need to act now, or if they have until July 15, 2020 to make these payments. The answer, as it usually is in taxation is, it depends.
The IRS recently released a reminder, that taxpayers with estimated tax payments for tax year 2020, originally due April 15 and June 15, are now due July 15. This means thatRead More