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Extended Tax Deadlines are Approaching

Important tax deadlines are upon us. Are you prepared? 

September 15th is the deadline for all S-Corps, Partnerships, and Trusts. October 15th is the final extended deadline for personal and Corporations (C-Corps).
For those who missed the July 15th tax deadline and didn’t request an extension, the Internal Revenue Service reminds taxpayers about some important tips, including filing as soon as possible.


1

File to reduce penalties and interest

2

Pay taxes due electronically

3

Due to limited IRS staffing, expect potential delays



If you are still waiting on your refund, taxpayers can track a refund using the “Where’s My Refund?” tool on IRS.gov, IRS2Go, and by phone at 800-829-1954. Taxpayers need the primary Social Security number on the tax return, the filing status, and the expected refund amount.

Get the Facts: Payroll Taxes Deferral Program

President Trump issued an executive order to defer the 6.2% tax employees pay toward Social Security from September 1st until December 31st. This is only a deferral — not forgiveness of the tax owed. 

Employees who partake in the payroll tax deferral would enjoy a temporary boost in their take-home pay for the remainder of the year.

However, they will see smaller paychecks early next year as employers withhold and pay the deferred amount to the IRS. 

The guidance issued by the IRS late last week places the responsibility on employers for collecting the deferred taxes.

As with much that the government does, we do not have complete guidelines on the program; however, Ravan + Blanco is staying informed of the latest updates. We are here to help with any questions that you may have.
For additional help with your personal or your organization’s tax needs, contact our expert team today.
www.ravanandco.com


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