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2020 Taxes Have Been Extended

Posted by Lauren Rios | Mar 20, 2020 | 0 Comments

In response to the COVID-19 pandemic, Treasury Secretary Steven Mnuchin offered taxpayers a 90-day reprieve on paying their income taxes. As of Friday, March 20, the deadline to file tax returns has also been extended by three months. Taxpayers will now have until July 15th to file and pay their 2019 income taxes (up to $1 million). During this time, filers will not incur interest on unpaid taxes or be subject to tax filing penalties. According to Wealth Management, “this reprieve amount would also likely apply to small businesses and pass-through entities. Corporate filers, on the other hand, would get the same length of time to pay amounts due on up to $10 million in taxes owed.”

As a courtesy to you, I am including a Cheat Sheet for tax filers and small businesses. Though this information is helpful, it does not constitute legal advice. Any questions you may have, you should contact your accountant or estate planning attorney. 

2020 Tax Cheat Sheet
2020 Tax Cheat Sheet
2020 Tax Cheat Sheet for Small Businesses
2020 Tax Cheat Sheet for Small Businesses

About the Author

Lauren Rios

Attorney Lauren Rios established her estate planning process on the philosophy that everyday people deserve access to the exemplary services of a big firm, but with the personal touch of a smaller firm. This belief is reflected in her delivery provided to her clients in the Bay Area.

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