When we, at MJW EA & CO, looked at the 2020 tax filing schedule in December, 2019, our biggest concern was that we were going to lose some time this tax season because Easter fell on the Sunday before April 15. This is never good for “tax season!” Never, ever did we think that we would lose days, weeks, and now months! Now our biggest concern is that everyone stays healthy.
This weekend is certainly not what we expected. As David Brooks so aptly put it in a NY Times op-ed “there is a river of woe running through the world.” In these challenging times, we are doing our very best to assist our friends and clients with their tax and financial needs and to learn as much as we can from many different sources – basically we spend more time learning and disseminating the latest information than we do on taxes. And then the information changes and we start again.
Besides a happy holiday message there are a few points worth noting:
Last night, a new IRS notice came out and the most important for our clients is the confirmation of July 15 as the filing date for 2019 tax returns and 1st Quarter 2020 estimates; but now they have extended the June 15, 2020 estimated tax deadline also to July 15. So your first and second quarter estimated tax payments are due the same day.
CT Department of Labor has not yet issued Unemployment to independent contractors. What we have found out is that the CT DOL is just now receiving guidance from the federal government. Legislation was written narrowly, and each state must interpret it separately. If you have applied and have been denied, my advice to you is “don’t give up.”
I hope you’re surrounded by sunshine, flowers, chocolate and a zoom family visit this weekend!
From all of us at MJW EA & Company: Victoriaanna, Mary, Deb, Charon, Christine, Chelsea and Mary Jo