Because a State of Emergency was declared in Texas and it was accepted by the President, Texas businesses and individual taxpayers have been given an automatic extension for filing 2020 tax returns and related tax payments to June 15, 2021.
As a firm, it is our intention to continue to prepare returns in a timely fashion and support clients as the preparation documents are received.
A Note about K1 Investment Documents:
- For clients with K1 investments that we prepare, we will continue tax preparation as normal, without extension or delay.
- For clients who have K1 investments that are prepared by an outside firm, you could experience a delay in receiving those documents. Subsequently, some of the K1s provided to individual investors (taxpayers) that are required to complete your personal tax return may be sent after March 15th and potentially not until June 15th. We understand that this may be out of our clients’ control.
Business As Usual
Again, as a firm, we will continue to maintain normal tax season operations and prepare returns in a timely and comprehensive fashion and do not expect delays – except as noted above with K1 Investments from outside firms.
To stay on schedule, we ask all of our clients to upload your tax information into the client portal as soon as you receive them.
