As the effects of COVID-19 are felt around the world, this novel virus is working its way into all aspects of our lives and your income taxes are no exception.
Earlier in the week it was announced that federal tax payments normally due April 15 can be deferred for 90 days. Until July 15, penalties and interest are waived for individual taxpayers owing up to $1 million on their 2019 returns and first quarter 2020 estimates. Corporations receive the same relief on balances due up to $10 million.
Secretary Steven Mnuchin announced this morning that the federal tax filings due April 15th will be due July 15th. We expect Kansas and most states to follow. Automatic extensions are still an option for those needing additional time to compile the information necessary. For the moment, we do have some relief to complete and file your tax returns, but we’d still like for you to gather your tax information and get it to us as quickly as possible!
For the safety of our employees and clients during this uncertain time, we are temporarily restricting access to the lobby and avoiding face-to-face meetings. We have the following options for providing information relating to your tax return:
We have a locked drop box in our vestibule if you need to drop off information. Staff collects information from the secured drop box hourly and distributes to the appropriate person. The front door to the vestibule is unlocked during normal business hours.
If you are uncomfortable entering our vestibule, please call 785-234-3247 upon arrival in our parking lot and someone can come to your vehicle.
We continue to utilize USPS, UPS, and FedEx for delivery options.
We are available by phone and email.
We have secure methods for electronic transfer of files and information.
We genuinely appreciate your patience and cooperation as we try to respond to the ever-changing COVID-19 situation.
The BT&Co. Team