Erickson & Associates, Inc.

We have heard the Governor’s message tonight and understand that only the essential businesses stay open. We are in an essential business at this time of the year. Taxes still need to be filed by April 15th so until Federal makes changes we will stay open. If anything changes we will let you all know. Thank you for your understanding at this ever changing situation.

The following was just released on the IRS website: This means everyone still has to file by April 15th, 2020 and are able to postpone their payments if they owe until June 15th, 2020 without penalties and interest for late payment not late filing. March 18, 2020 Washington Following President Donald J. Trump’s emergency declaration pursuant to the Stafford Act, the U.S. Treasury Department and Internal Revenue Service (IRS) today issued guidance allowing all individual and... other non-corporate tax filers to defer up to $1 million of federal income tax (including self-employment tax) payments due on April 15, 2020, until July 15, 2020, without penalties or interest. The guidance also allows corporate taxpayers a similar deferment of up to $10 million of federal income tax payments that would be due on April 15, 2020, until July 15, 2020, without penalties or interest. This guidance does not change the April 15 filing deadline. Americans should file their tax returns by April 15 because many will receive a refund. Those filing will be able to take advantage of their refunds sooner, said Treasury Secretary Steven T. Mnuchin. This deferment allows those who owe a payment to the IRS to defer the payment until July 15 without interest or penalties.

The following is for California tax filings ONLY and does not change the current status of Federal filings: Sacramento The Franchise Tax Board (FTB) today announced special tax relief for California taxpayers affected by the COVID-19 pandemic. Affected taxpayers are granted an extension to file 2019 California tax returns and make certain payments until June 15, 2020, in line with Governor Newsom’s March 12 Executive Order. During this public health emergency, every Califo...rnian should be free to focus on their health and wellbeing, said State Controller Betty T. Yee, who serves as chair of FTB. Having extra time to file their taxes helps allows people to do this, as the experts work to control the spread of coronavirus. This relief includes moving the various tax filing and payment deadlines that occur on March 15, 2020, through June 15, 2020, to June 15, 2020. This includes: Partnerships and LLCs who are taxed as partnerships whose tax returns are due on March 15 now have a 90-day extension to file and pay by June 15. Individual filers whose tax returns are due on April 15 now have a 60-day extension to file and pay by June 15. Quarterly estimated tax payments due on April 15 now have a 60-day extension to pay by June 15. The FTB’s June 15 extended due date may be pushed back even further if the Internal Revenue Service grants a longer relief period. Taxpayers claiming the special COVID-19 relief should write the name of the state of emergency (for example, COVID-19) in black ink at the top of the tax return to alert FTB of the special extension period. If taxpayers are e-filing, they should follow the software instructions to enter disaster information. The FTB will also waive interest and any late filing or late payment penalties that would otherwise apply. FTB administers two of California’s major tax programs: Personal Income Tax and the Corporation Tax. FTB also administers other non tax programs and delinquent debt collection functions, including delinquent vehicle registration debt collections on behalf of the Department of Motor Vehicles, and courtordered debt. Annually, FTB’s tax programs collect more than 70 percent of the state’s general fund.

Good Morning all! Welcome to a new day. I have been checking and still nothing new set in stone. Everything is currently just a proposal if anything changes with the IRS we will let you know. The office is still open for business and available to serve your needs before April 15th.

This is straight from the IRS website @2:52 p.m. on Tuesday March 17th, 2020: 2020 Tax Filing Season The IRS is now accepting and processing federal tax returns for tax year 2019. The deadline to file a 2019 tax return and pay any tax owed is Wednesday, April 15, 2020.... The IRS strongly encourages people to file their tax returns electronically and choose direct deposit for faster refunds. Filing electronically reduces tax return errors as the tax software does the calculations, flags common errors and prompts taxpayers for missing information. See IR-2020-20. Avoid the rush February is the busiest period for calls to the IRS’ call center. It is also the peak time for visits to IRS offices for face-to-face tax help. The IRS reminds taxpayers that most answers to their tax questions can be quickly found on IRS.gov. See the Avoid the rush page for the latest updates.