March 26, 2020
Dear Brothers and Sisters,
See below- updated guidelines regarding the Internal Revenue Service extension of filing of taxes, with federal and state tax information. Additional resources for information provided.
James J. Claffey Jr.
Local One I.A.T.S.E.
There are many questions related to tax filings, balances due, unemployment and business resources.  Here are a few important facts for your review. Briefly -
Federal filing date - has been extended from 4/15/20 to 7/15/20.  Nothing has to be filed to obtain this extension.
Federal balances due - the due date for paying Federal balances due has been extended from 4/15/20 to 7/15/20.
Federal estimates - the first federal estimate due 4/15/20 has been extended until 7/15/20 (Note - the second estimate due 6/15/20 remains scheduled as is)
IRA's/HSA's/Retirement plan contributions - have been extended until 7/15/20 to make payments
What if I already filed my return and there is a balance due?  Unfortunately, any payment that has been scheduled will be debited from the account given.  You can attempt to call the Treasury at 888-353-4537 and attempt to delay the payment.
What about NJ?  A bill has been passed by the NJ Legislature, and it awaits the Governor's signature that will extend the NJ deadline to 6/30/20. 
What about NY?  Currently there is no extension for the filing of taxes in NY.
What if I am getting a refund?  We recommend you file as you normally do.  Refunds are being processed and paid.
Here are some suggested resources:
Federal Tax Update -
The IRS has published Filing and Payment Deadlines Q&A's
State Tax Summary -
The AICPA has published the State Tax Filing Relief Chart
Small Business Administration -
Has released Small Business Guidance & Loan Resources
Scheidel, Sullivan & Lanni CPA LLC | | |  |145 N. Franklin Turnpike, Suite 303
Ramsey, NJ 07446

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