We have received official word from the IRS that the Texas counties of Chambers, Harris, Jefferson, Liberty, Montgomery, and Orange are considered to be in a Presidentially Declared Disaster Area due to the effects of Tropical Storm Imelda. The result of this news is that many tax items with a due date between October 15, 2019 and January 15, 2020 have been delayed to January 31, 2020. Those deadlines include:
• 2018 1040 Tax Returns placed on extension (usually due October 15)
• 2018 C-Corporation Tax Returns placed on extension (usually due October 15)
• 3rd Quarter 2019 941 Payroll Tax Returns (usually due October 31)
• 2018 990 Tax Returns placed on extension (usually due November 15)
• 4th Quarter estimated tax payment (usually due January 15)
If you have any questions or concerns regarding how this affects your tax return status, please contact the office. Baity & Associates will continue to operate as usual, and we encourage you to send in your work as you normally would unless you were adversely affected by the disaster and are unable to do so.
A final note, for those 1040 clients who are on extension for your 2018 tax return, if you owe on your return, penalties and interest will still apply to the amount owed as the official payment date was April 15, 2019. If you believe you will owe on your 2018 tax return, please send us your tax information as soon as possible to avoid further penalties and interest.