TAX DEADLINE EXTENSIONS Updated 4-16-20 SUMMARYThe IRS and the Massachusetts Department of Revenue have extended essentially all deadlines to July 15, 2020. Here is a listREFUNDS – If you are still expecting refunds, please know that we are here to help get your returns prepared and filed as soon as we have all of your information.BALANCES – If you are likely to owe a balance on your tax returns, you are allowed to make payments as late as July 15, 2020 without interest or penalty. Today, our tax software is setup to automatically withdraw payments from your bank account on July 15th. You do not need to make a payment by check in order to use the extended deadline.ESTIMATED TAX PAYMENTS – The first quarter payment for indivuals (usually due April 15th) and the second quarter payment for individuals (usually due June 15th) have BOTH been extended until July 15th.PAYMENT DEADLINES SUMMARYBalance(s) on 2019 Tax Return(s) – July 15, 2020Q1 Estimates for 2020 July 15, 2020Q2 Estimates for 2020 July 15, 2020Q3 Estimates for 2020 Sept 15, 2020Q4 Estimates for 2020 Jan 15, 2021OTHER DEADLINE DRIVEN ITEMSIRA CONTRIBUTIONS: The IRS is granting an extension to make IRA contributions until July 15th.RMD (Required Minimum Distributions): The requirement to take a distribution for 2020 has been waived. If you have already taken a distribution, you may return it to your retirement account before the end of the year. Original Post As of today, the IRS has extended the tax filing and payment deadline to July 15. The Mass DOR is currently working on the same. With that said, we are still working diligently to finish as many returns as possible, especially those for people who are expecting refunds. So what are the options? REFUNDS– If you are expecting a refund, we are here to help get your returns prepared and filed as soon as we have all of your information. BALANCES – If you are likely to owe a balance on your tax returns, you are allowed to make payments as late as July 15, 2020 without interest or penalty. But, please keep in mind, that as of today, our tax software is setup to automatically withdraw payments from your bank account on April 15th, despite the change in deadlines. Here are some options open to you: Already Filed a Return - If you scheduled a payment as part of filing your tax return (authorizing an electronic funds withdrawal), the funds will continue to be withdrawn on April 15th. BUT, you may revoke (cancel) your payment by contacting the U.S. Treasury Financial Agent at 888-353-4537. You must call to make a payment cancellation request no later than 11:59 p.m. ET two business days prior to the scheduled payment date. You will have to make other arrangements to make payment at a later date.Ready to File – Continue to Make Payment on April 15th – This is our normal process. We electronically file your returns and you elect to have the funds automatically withdrawn on April 15th.Ready to File – Delay Payments – We have two ways of achieving this objective:Method 1: File Returns Now, Pay by Other Means – We can electronically file your returns and provide you with voucher(s) to make payments at a later time. You may pay by check, or through other electronic means.Method 2: Delay Filing Returns – If you still prefer that we set up an automatic withdrawal closer to July 15, we would delay the filing of your returns until then. OTHER DEADLINE ITEMS – IRA CONTRIBUTIONS: It appears that the IRS is granting an extension to make IRA contributions until July 15th.