Tax Time

VIDEO TRANSCRIPTION

If you’ve been putting off dealing with your taxes, you just got a little breathing room. The IRS is postponing federal tax payment deadlines during the CORONAVIRUS outbreak. The filing deadline is still April 15th- but if you owe money–you’ll have an extra 90 days to pay, interest and penalty free. The extension is meant to help free up household money for those impacted by CORONAVIRUS, since social distancing and other restrictions are cutting into many bottom lines. Under the new guidelines, individuals — including small business owners — can defer up to $1 million in tax payments without interest and penalties for 90 days. Corporations can defer up to $10 million in taxes. But remember if you are due a refund, it only makes sense to stick with the April 15th deadline or to file even sooner, to get that extra cash.

Contact The Law Office Of Mary King PL Today

If you’re in the Sarasota Area and you aren’t really sure where you stand on the tax front, there is help. Call the law office of Mary King today at-9419067585 or visit floridataxlawyers .com.