Wednesday, March 18, 2020
IRS Extends Deadline to Pay Taxes
Returns Still Due April 15

To combat anticipated financial hardships occurring as a result of COVID 19, the Treasury Department has announced that taxpayers may postpone the payment of up to $1,000,000 in income taxes due for 2019 ($10,000,000 in the case of corporations) until July 15, 2020 without penalties and interest. The $1,000,000 limitation applies regardless of whether the taxpayer is filing an individual or joint return. Income tax returns are still due on April 15, but taxpayers needing more time to file their returns may still file a request with the IRS for an automatic six-month extension.

Click here  to read the official guidance from the Treasury Department.

Disclaimer:  The information included here is provided for general informational purposes only and should not be a substitute for legal advice nor is it intended to be a substitute for legal counsel. For more information or if you have further questions, please contact one of our Attorneys.
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Friday, Eldredge & Clark, LLP is a full-service law firm representing businesses, non-profits, governmental and individual clients in Arkansas and across the United States. We are the largest law firm in Arkansas and one of the oldest — tracing our historical roots back almost 150 years. Our success stems from strong internal leadership and a continuously sharp focus on our clients' needs. We provide clients single-source convenience by offering a wide range of services in more than 50 areas of law. Although the firm is known for its rich history and vast scope of services, it is committed to further growth and development to serve our clients better and put them at the focus of our work - every day.