COVID-19 Tax Updates

The news last week of an extended IRS filing and payment deadline from April 15th to July 15th was welcome news for many struggling to cope with COVID-19. The extension granted businesses and individuals with additional time to review their tax situation and determine how they will make required income tax payments.

As the challenges of COVID-19 continue to impact individuals and businesses, there has been concern about how many will comply with the upcoming tax filing deadline. Earlier this week, it was announced that taxpayers received a 90-day extension to pay any taxes owed to the federal government, but the filing deadline of April 15th remained.

The impact of the Coronavirus (COVID-19) prevention and containment measures can be seen across the Atlanta area. The closure of area public schools, cancellation of various conferences, limited access to restaurants and the restriction on gathering sizes speak to the seriousness of prevention efforts.