Davis Tax Services, LLP

Tax planning, preparation & problem resolution

IRS FAQ about filing and payment relief

IRS has issued an FAQ that addresses various questions about filing and payment relief eligibility. Some highlights:

-- Question 14 addresses whether direct debit payments scheduled for April 15 move automatically to July 15 (no, but you can do something about that).

-- Question 16 addresses Q2 estimated income tax payments (due date remains June 15).

-- Question 17 clarifies IRA contributions for TY19 may be made until July 15.

-- Question 22 addresses the three-year statute of limitations for claims for refund (no, the "your refund is gone forever" deadline for TY16 returns remains April 15).

IRS also unveiled the new "People First Initiative," suspending nearly all collection actions until July 15.

Two IRS call centers (in Cincinnati and Fresno) have been shut down by states, while a third (Ogden) is affected by a recent earthquake. In other words, expect slower than normal service when calling IRS. Also, IRS has discontinued face-to-face service throughout the country until further notice.

While the filing and payment deadlines for IRS and AZ have moved to July 15, contributions for Arizona credits still need to be made by Apr. 15.

Latest IRS info:

-- Coronavirus Tax Relief Center

-- Filing and Payment Deadline Extended to July 15, 2020 - Updated Statement

-- Coronavirus-related paid leave for workers and tax credits for small and midsize businesses to swiftly recover the cost of providing Coronavirus-related leave

Coronavirus Tax Relief

The IRS and Arizona have extended the due date to July 15, 2020, both for filing income tax returns and for payments due on those returns for individuals and other unincorporated entities.

Associated interest, additions to tax, and penalties for late payment will also be suspended until July 15, 2020. Taxpayers will not need to appy for relief from penalties and interest for payments made during this time.

The IRS established a special webpage at IRS.gov/coronavirus for tax-related information. For more information, see Tax Day now July 15 and Treasury and IRS Issue Guidance on Deferring Tax Payments Due to COVID-19 Outbreak

Where's my refund?

Click here to get an instant answer from the IRS. You'll need the exact dollar amount of your refund, Social Security number and filing status.

For Arizona refunds, visit Check Refund Status.

If you have a business...

... remember that partnership and corporate tax returns are due Mar. 15, not Apr. 15. That includes multi-member LLC's. We'll gladly prepare your business return.

Partnership and corporate returns may be extended to Sept. 15. Let us know if you need more time to file your corporate return.

Gotta get it together?

Need a tax organizer to help pull everything together for tax time?

Visit our resources page for helpful worksheets.

You may also want to look at the Investopedia.com article 10 Steps To Tax Preparation

Call or email now for your tax appointment. Weekday, evening and weekend appointments are available for your convenience.

Highlights of tax law changes

Tax Cuts & Jobs Act Highlights