Tag Archives: COVID-19

IRS, MA DOR, Massachusetts, news update, tax, Tax Filing Deadlines, Tax payments

income tax filing deadline moved to july 15

Additional time to file and make payments without interest or penalties

The income tax filing deadline is now July 15. Treasury Secretary Steven Mnuchin announced in a tweet that all taxpayers and businesses will have additional time to file income tax returns and make any payments, without facing interest on payments or penalties for late filing.

Taxpayers may delay filing and paying 2019 Federal income taxes that would have been due on April 15. The new due date is July 15, 2020. This delay applies to taxes due of up to $1 million. This relief applies to all taxpayers, including trusts and estates. Corporations may also delay paying taxes of up to $10 million. Many states, including Massachusetts, have announced that they will follow Federal relief guidelines.

On the MA DOR website, it says: “In the event the Internal Revenue Service (IRS) issues tax relief to taxpayers with federal filing obligations, DOR is prepared to follow the IRS in offering similar relief for taxpayers with Massachusetts tax filing obligations. “

The due date for Federal estimated tax payments that would have been due on April 15 for 2020 is also postponed to July 15.

These measures are being enacted to help Taxpayers navigate through the economic effects of COVID-19 (coronavirus). Individual Taxpayers and Businesses will be able to use the money they would have paid to the IRS to meet other needs during the economic crisis related to COVID-19 containment measures.

news update

COVID-19 In-Person Meeting Policy Change

William F. Cahalane, CPA and Noreen M. Cahalane, EA, MST – New Meeting Policies

Due to the COVID-19 (coronavirus) pandemic, we want to keep you safe and minimize your risk of exposure to the virus. One way to do this is to provide you with great client service by using our secure portal, mail, phone, conference calls or email, instead of having you come to our office location. 

The health of our clients, our team, all of our families and the community is of utmost importance to us. Therefore, we are implementing the recommendations and restrictions from our local, state, and federal government, as much as possible, while still delivering personal service and attention to our clients and providing professional and quality accounting, tax, financial and consulting services.  We strive to be trusted advisors and consultants to all our clients, even in these difficult times.  

Our challenge is to continue to meet the needs of our clients while limiting in-person contact and following social distancing and public health recommendations. Thankfully much of our work can be done using mail, email, secure portal and teleconferences. As a precaution and to limit the possibility of transmittal while meeting the needs of our clients, we are not having any in-person meetings.  This meeting policy will remain in effect until further notice.

We believe that these reasonable and responsive steps are the best way to protect our clients, our team, their families, and the community at large.  If you have any questions or concerns about our new policy feel free to reach us by email or phone.

Stay safe and healthy!