To our Valued Clients,
At Lallman, Felton, Peterson, & Pierce P.A., the health and safety of our employees, our clients, and our community is critically important. For this reason, we are taking specific precautions to protect our staff and visitors during the current outbreak of coronavirus (COVID-19). As the spread of the virus continues, we are considering the potential impact and how we can best protect our clients and staff while still providing the service that you have come to expect.
According to the most recent information from the CDC, the immediate risk of being exposed to the virus that causes COVID-19 remains low for most Americans. However, we want you to feel comfortable working with our firm during this important and critical time of year. Below, we’ve outlined how we are working to minimize potential risk.
Electronic options – To protect both our staff and our clients against virus spread, we are recommending that where possible, we conduct information sharing using electronic options. While meeting with your tax advisor face-to-face can certainly alleviate stress around this time of year, we can usually meet everyone’s needs through telephone and electronic sharing. To provide us with documents, you can send items through our Safe Send feature, by clicking this link. Additionally, we urge you to take advantage of the option to e-sign and receive e-delivery of your tax returns this year.
In addition to staying safe and healthy, we are committed to staying informed about how COVID-19 is impacting this tax season. Here is what we know today:
Income tax payment deadlines for individual returns, with a due date of April 15, 2020, are being automatically extended until July 15, 2020.
For C Corporations, income tax payment deadlines are being automatically extended until July 15, 2020.
This relief also includes estimated tax payments for tax year 2020 that are due on April 15, 2020. At this time, the IRS has not extended the estimated tax payments that are due June 15, 2020.
Penalties and interest will begin to accrue on any remaining unpaid balances as of July 16, 2020. If you file your tax return or request an extension of time to file by July 15, 2020, you will automatically avoid interest and penalties on the taxes paid by July 15.
This relief only applies to federal income tax (including tax on self-employment income) payments otherwise due April 15, 2020, not state tax payments, deposits, or payments of any other type of federal tax.
Rest assured, we are monitoring this developing situation closely. If any major changes occur, we will update you immediately with details. Thank you for your patience and trust in Lallman, Felton, Peterson, & Pierce, P.A. during these unusual circumstances.
If you have any questions or concerns, please do not hesitate to contact our office.
USEFUL LINKS:
Safesend
Virtual Office Guidelines:
A two day quarantine of any physical documents received (via drop-box or mail)
Electronic delivery of tax returns, financial statements, and other reports
Electronic client signatures on client tax returns (whenever possible)
Electronic delivery of LFP2 invoices for our individual tax clients (unless you have requested paper)