Coronavirus (COVID-19) and its Impact to Taxes

[Update 3/17/2020] Treasury Secretary Steven Mnuchin said on Tuesday (3/17/2020) that taxpayers can delay paying their income taxes on as much as $1 million in taxes owed for up to 90 days. This postponement applies to federal returns. Please check your state’s tax deadlines for any delays with state filings. On Friday, March 13th, 2020, President Trump declared the spread of COVID-19 (commonly referred to as the Coronavirus) a national emergency. While this declaration has far reaching implications across many industries and sectors, there are also tax implications. The IRS has setup a webpage for taxpayers to keep up to date on how the Coronavirus will impact your taxes: We here at Tax Credit Hero wish you health and … Read More