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From Home Furnishing Business
Smith Leonard Releases Tax Tips
April 14,
2020 by Laurie Northington in Business Strategy, Industry 
Accounting and consulting firm Smith Leonard has provided tax tips for both business and individuals during the COVID-19 crisis, highlighting that first and second quarter federal estimated tax payments are now both due by July 15.
The IRS has provided answers and clarification on tax deadlines and delays with Notice 2020-23. Taxpayers with a filing or payment deadline falling on or after April 1, 2020, and before July 15, 2020, now have until July 15, 2020, to file returns and make payments without penalties or interest. This also includes Americans living and working abroad, and applies to individuals, trusts, estates, corporations, and other non-corporate tax filers, including fiscal-year filers. As a result, the vast majority of actions required to be taken by taxpayers from April 1 through July 14 will now be postponed with a new deadline of July 15.
State deadlines are a moving target as well. Smith Leonard has done its best to summarize this information on a state-by-state basis in an easy-to-sort Excel format. Access the state tax deadline spreadsheet*.
Please note: This spreadsheet has been updated as of April 10, 2020 at 9 a.m. EST. As with many things these days, these guidelines are subject to change, and the company will do its best to keep it as updated as possible and notate the time of most recent changes.