COVID-19: Working with Us and the Extended Tax Deadline

Alert COVID-19 – Shannon & Associates LLP _ Kent, WA

Updated March 21, 2020

Dear Shannon clients and friends,

The events of the last few weeks certainly are unprecedented and like many of you, we are closely monitoring the impact COVID19 will continue to have on businesses and individuals.

As a firm, we have taken a proactive approach to protect our team and their families. We also want to do what we can to protect those most at risk in our community by doing our part to slow down the spread of the virus.

In an effort to further implement social distancing, all client meetings will be conducted over the phone or via video conferencing. Clients who don’t have the ability to use our portal or fax us information will need to mail information to us as our office is not open for delivery or pick up.

Tax Returns Due March 16, 2020 – Partnerships and S-Corporations

For partnerships and calendar year-end S corporations the deadline of March 16, 2020, remained the same with the ability to file an extension to September 15, 2020.

Tax Returns Due April 15, 2020 – Individuals, Trusts and Estates and Corporations

The April 15th deadline has officially changed to July 15th. This will allow individuals, calendar year estates and trusts as well as C Corporations additional time to both file and pay any tax due without any additional penalty or interest. For those with estimate payments, the date of the 1st estimate has also changed to July 15th. At this time, the 2nd estimate payment is due June 15th which is a bit awkward and we will let you know if that date will also be changed.  

For those taxpayers with state income tax returns, those deadlines vary by state, as an example, California is granting only a 60-day extension (June 15, 2020). See below for a link to the AICPA state filing resource.

We are asking you to provide your information as you normally would despite the date to pay tax due being moved to July 15

Delays in preparation of tax returns

We are thankful we don’t have any reported cases, but our staff has been affected by COVID-19. Similar to other businesses, we have had a large amount of disruption to our schedules. The closure of all schools in our state, as well as assisting those family members who are most at risk have also created some additional challenges for many of our people. For these reasons, the turnaround time for preparing tax returns and other engagements will be affected. We are still very much in “tax season” mode, however, modified and we will continue to prepare returns on a first in/first-out basis.

Working with us during this time

For the next 4 weeks, we will be operating with essential staff only to take your phone calls between the hours of 8-5 Monday-Friday. However, we will be unable to receive or deliver information in person. If you are unable to upload items to your portal we ask that you mail or fax the information to us.

You can still reach your client service team through our main number (253) 852-8500 or vial email just as you would have before.

Client Portal

If you don’t have a client portal, please consider setting one up so we can exchange information electronically. If you would like more information on setting up your portal please call 253-852-8500 or email info@Shannon-CPAs.com

We are here for you

While the way we work with you will be modified for the current time and you may experience some delays in delivery of our service, we remain committed to providing you the same quality service you have come to expect. As always you can reach us at our main number 253-852-8500 or general email info@Shannon-CPAs.com

We hope you and your family are safe and healthy, we appreciate the opportunity to work with you.

Sincerely,

SHANNON & ASSOCIATES, LLP

Resources

Washington State Department of Revenue
https://dor.wa.gov/about/2019-novel-coronavirus-outbreak-covid-19-update

Employment Security
https://esd.wa.gov/newsroom/covid-19

Washington State Department of Health
Novel Coronavirus Outbreak 2020 :: Washington State Department of Health
https://www.doh.wa.gov/Emergencies/Coronavirus

AICPA State Filing Guidelines Resource
https://www.aicpa.org/content/dam/aicpa/advocacy/tax/downloadabledocuments/coronavirus-state-filing-relief.pdf

SBA Assistance
https://www.sba.gov/disaster-assistance/coronavirus-covid-19#section-header-10

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