Financial Intel Monthly

90-Day Tax Deadline Delay

Mar 24, 2020 2:30:00 PM / by The Retirement Group

black Android smartphone near ballpoint pen, tax withholding certificate on top of white folder

 

In light of current events and potential financial difficulties caused by the COVID-19 outbreak, the Internal Revenue Service (IRS) has postponed the 2019 federal income tax filing and payment deadline until July 15, 2020.1,2,3

Those who owe payments up to $1,000,000 as individuals or $10,000,000 as a corporation may claim the 90-day delay in payment without interest or penalties.1

We recommend that you consult your tax, legal, and accounting professionals before modifying your existing tax strategy. While it’s our intention to keep you updated on the most recent information, this is not a replacement for real-life tax advice.

1. IRS.gov, March 18, 2020

2. USA Today, March 17, 2020

3. CNBC, March 20, 2020

 

Securities offered through FSC Securities Corporation, member FINRA/SIPC and investment advisory services offered through The Retirement Group, LLC, a registered investment advisor not affiliated with FSC Securities Corporation. Although FSC is a signatory to the Broker Protocol, TRG is not. The removal of PII from FSC under the Broker Protocol is a violation of the Privacy Policy. Representatives are securities registered and are able to service clients in the following states: ALABAMA, ARIZONA, ARKANSAS, CALIFORNIA, COLORADO, FLORIDA, GEORGIA, ILLINOIS, INDIANA, KANSAS, MASSACHUSETTS, MICHIGAN, MISSISSIPPI, MISSOURI, NEVADA, NEW HAMPSHIRE, NEW JERSEY, NEW YORK, NORTH CAROLINA, OHIO, OKLAHOMA, OREGON, PENNSYLVANIA, SOUTH CAROLINA, TEXAS, TENNESSEE, WASHINGTON, WISCONSIN.

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