"Double Hit" Quarterly Tax Payments Coming on July 15

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The shift in the federal tax filing deadline from April 15 to July 15 also delayed the due dates of the first and second quarterly tax payments, normally scheduled for April 15 and June 15. Both quarterly payments are now due on July 15, 2020. Many state tax deadlines are following the same calendar dates. Taxpayers should be alert to this "double deadline" and be prepared for the potential cash outflow it represents.

For more information on this and other tax issues, and cash flow modeling, please call Gray, Gray & Gray at (781) 407-0300.

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