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  • Writer's pictureKathryn Bruns, CPA

Important tax and practice update for Coronavirus response - 3/20/2020

As updates are being issued daily for tax and business practice mandates and relief, I am continuing to try to keep you informed and up-to-date in my efforts to responsibly serve you as easily and stress free as possible.

The most recent tax update is that NC has somewhat piggy-backed off of the federal, in that PAYMENTS due April 15 can be delayed until July 15 without PENALTIES imposed. Note that interest may still be accrued because NC claims that state law precludes them from waiving interest.

As before, a tax return or extension should still be filed by April 15 to avoid unnecessary interest, penalty or notice problems down the road.

IMPORTANT PERSONAL PRACTICE NOTES: We can quickly and easily file extensions for you because we do not have to try to compute any tax payments for federal and state under the latest relief provisions. Therefore, if you want to go ahead and have extensions filed for you, there will be no charge from me to do this. This course of action will buy you time to regroup in a month or two when hopefully everyone is in a better position to deal with taxes.

Of course, if you want to get your tax returns done, I am continuing to work everyday in order to do so.

Our conference room is readily available and can enable keeping the recommended 6 feet distancing. We also have all of the technology available to avoid coming to our offices at all if you desire, as long as you can turn files into electronic records for secure transfer to us using our portal.

Please feel free to call me to discuss your particular situation and desires for how I can be of best service to you at this time as we navigate through this daily-changing unprecedented event.

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