Coronavirus and IRS Deadlines

[ATSMAN]

There has been some media reports that the President may declare some emergency and Federal workers will be restricted or confined to working from home. I know some Governors have already declared a state emergency.

What are the chances the 3/16 and 4/15 filing deadline gets extended??

[EvenKeelTax]

I saw on the news this morning it is likely the tax deadline will be extended, but nothing officially announced as of yet. I run a small solo office and have other work planned for the spring, summer, and fall so if things do get extended my plan for the office door is going to be something like this: REGULAR OFFICE HOURS ENDED APRIL 16. CALL OR EMAIL FOR AN APPOINTMENT THANKS. No way I will sit around in my office into late April or beyond just hoping for some business...

[mastertaxguy]

U.S. Tax Court has cancelled its trial session for March 16, 17, 23 and 30.

[ATSMAN]

President just announced he is asking Treasury to waive interest and penalties for late tax payments. BUT he did not give the details so I guess we have to wait and see what happens.

[TaxGuyBill]

President just announced he is asking Treasury to waive interest and penalties for late tax payments.

Maybe I'm wrong, but I seem to remember that the IRS can waive the penalties, but they legally can't waive interest (unless maybe Congress passes a law that allows that).

[rbynaker]

Maybe I'm wrong, but I seem to remember that the IRS can waive the penalties, but they legally can't waive interest (unless maybe Congress passes a law that allows that).

Maybe in a federally declared disaster area?

[Burke]

Maybe in a federally declared disaster area?

Which right now encompasses the entire United States to hear some of the pundits.

[sdarave]

I agree with EvenKeelTax. After April 15th I'm in the office one day a week or BAO.

[Rapid Robert]

It's interesting to see a tax proposal that favors certain taxpayers which, for a change, the tax profession is not 110% in favor of. “It all depends on whose ox is being gored”, as the saying goes.

[Lion]

Yes, please postpone P&I for a month or two or until 15 October. That way we preparers aren't killing ourselves to finish by 15 April or to prepare extended returns ASAP, giving us a change to rest, vacation, reconnect with family, and not work until later or once/week or whatever. I don't want face-to-face meetings right now or for the foreseeable future, not even for quick signatures; but, I have some people without computer access that need/want to come into my office. I want to be able to postpone them for months without them paying P&I and being angry with me. If you can prepare all your clients by 15 April, I think that's great. But, don't tell us that we all should be able to do that, especially under these circumstances.

One party in Westport with one infected person has generated 14 infected people two weeks later. I can't imagine how many people were in contact with those 14 over the last two weeks. And so on and so forth.

[ATSMAN]

It appears from media reports that Pres. will declare a national emergency at 3pm. If that happens I can't see how we stick to the 4/15 deadline especially when experts say we are 2 to 3 weeks from the peak infection period.

[EvenKeelTax]

I'm lucky to be in central Maine, an area not yet officially affected by the outbreak. As of now things are fairly normal around here with the strange exception that everyone is hoarding toilet paper and soap. Not really sure why stores aren't yet sold out of canned beans yet the TP is gone...

[Uncle Sam]

I'm in a suburb of NYC and various counties in the Lower Hudson Valley region of NYS are declaring State of Emergency.
I can't see how the tax agencies WON'T extend - because the government employees have the same susceptibility as we do to this virus and they won't be able to work as well either.
A client of mine came today to pick up her completed returns. Before she came to me she shopped in a nearby supermarket and the lines were packed and certain health related products were all sold out.
The CPA Society I'm a member of sent out an APB e-mail notifying us that they've sent a letter to the officials requesting not only extensions, but relief from penalties as well up to extended deadline.