News | March 30, 2020

Tax Planning | March 30, 2020

UPDATE - Tax Announcement

by  John LeVangie, GW & Wade Counselor

3/27/20 - As of Friday, March 27th the deadline for filing most State 2019 income tax returns and payments for filers has been postponed until July 15, 2020 to match the federal extension for filing income taxes amid the pandemic. This includes 34 states - AL, AR, AZ, CA, CO, CT, DC, DE, GA, IL, IN, KS, KY, LA, MA, ME, MD, MN, MO, MT, NC, ND, NE, NM, NY, OH, OK, OR, PA, SC, TN UT, WI, WV. 

This extension is automatic and taxpayers don’t have to file any additional forms to qualify for the relief.

3/20/20On March 20th the IRS announced that the deadline for filing Federal 2019 tax returns and payments for all filers is postponed until July 15, 2020. We are continuing to monitor State deadlines although the expectation is that most states will follow the federal date changes.  

3/19/20 We have been keeping apprised of developments related to tax return filing and tax payment deadlines.

On March 18th, 2020, the IRS announced that the due date for Federal 2019 tax payments and first quarter estimated tax payments up to an aggregate of $1 million for individuals is postponed until July 15, 2020. 

Note that at this point, there has been no change to the Q2 estimated tax payment date of June 15th.

Please contact your Counselor if you have any questions.

Investment advisory services offered through GW & Wade, LLC.

The information above is general and educational in nature and should not be considered legal or tax advice. Tax laws and regulations are complex and subject to change. GW & Wade cannot guarantee that this information is accurate, complete, or timely. We make no warranties with regard to such information or results obtained by its use. Always consult an attorney or tax professional regarding your specific situation.

Clients of the firm who have specific questions should contact the GW & Wade Counselor with whom they regularly work. All other inquiries, including any inquiry concerning a potential advisory relationship with GW & Wade, should be directed to:

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GW & Wade, LLC

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John LeVangie, GW & Wade Counselor


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