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In addition to the official filing deadline on April 15, 2020, there are several other filing deadlines this month!

April 10, 2o20

Employees – who work for tips. If you received $20 or more in tips during March, report them to your employer. You can use Form 4070.

April 15, 2020

Employers – Social Security, Medicare, and withheld income tax. If the monthly deposit rule applies, deposit the tax for payments in March.

Employers – Nonpayroll withholding. If the monthly deposit rule applies, deposit the tax for payments in March.

Individuals – File an income tax return for 2019 (Form 1040 or Form 1040-SR) and pay any tax due. If you want an automatic 6-month extension of time to file the return, file Form 4868, Application for Automatic Extension of Time To File U.S. Individual Income Tax Return and pay what you estimate you owe in tax to avoid penalties and interest. Then file Form 1040 or Form 1040-SR by October 15.

Household Employers – If you paid cash wages of $2,100 or more in 2019 to a household employee, file Schedule H (Form 1040 or Form 1040-SR) with your income tax return and report any employment taxes. Report any federal unemployment (FUTA) tax on Schedule H (Form 1040 or Form 1040-SR) if you paid total cash wages of $1,000 or more in any calendar quarter of 2018 or 2019 to household employees.

Individuals – If you are not paying your 2020 income tax through withholding (or will not pay in enough tax during the year that way), pay the first installment of your 2020 estimated tax. Use Form 1040-ES.

Corporations – File a 2019 calendar year income tax return (Form 1120) and pay any tax due. If you want an automatic 6-month extension of time to file the return, file Form 7004 and deposit what you estimate you owe in taxes.

Corporations – Deposit the first installment of estimated income tax for 2020. A worksheet, Form 1120-W, is available to help you estimate your tax for the year.

April 30, 2020

Employers – Federal unemployment tax. Deposit the tax owed through March if more than $500.

Employers – Social Security, Medicare, and withheld income tax. File Form 941 for the first quarter of 2020. Deposit any undeposited tax. If your tax liability is less than $2,500, you can pay it in full with a timely filed return. If you deposited the tax for the quarter in full and on time, you have until May 11 to file the return.

To Our Valued Clients and Friends,

We understand the last several weeks have been both confusing and uncertain, elevating levels of stress and anxiety while imposing varying degrees of fear and concern. To compound the ever-present conditions, it’s the heart of tax season and many individuals and business owners are wondering the extent to which the Coronavirus pandemic and state restrictions will impact your filings.

To those of you who are ill with COVID-19, or have loved ones who are, we hold you in the light and are thinking of you and wishing you a speedy and full recovery. To any who may be grieving, the Ullrich Delevati family grieves with you. To those with questions about your financial interests and tax filings, we are here to support you in every way!

As an essential business, our firm is staying open and diligently working to complete all tax filings in a timely manner. Both the State of California and Federal government have extended the filing and tax payment deadlines to July 15, 2020. We understand this and will use it as necessary. However, we are aware of the current level of anxiety in the world and are making every effort to complete returns on time, in order to help minimize the stress and anxiety tax day brings and ensure those of you receiving refunds will get your money in a timely manner.

With that said, we have made changes to our internal practices in order to protect both our staff and our clientele. This includes social distancing and limiting visitors. We are now conducting client interviews via telephone and kindly request that you send your information electronically or arrange for a drop off, prior to your scheduled appointment. For client preferring to complete an electronic document transfers, we have a secured web portal and invite you to contact our office to establish your account. For those wishing to drop off, please call our office to schedule a day and time.

Within our office, we are making every effort to practice social distancing as well as encouraging frequent hand washing and surface cleaning within the office. Where possible, staff will be working remotely to minimize exposure. Rest assured we have ramped up our online security to ensure any and all personal and financial data is secured. We have also requested that any staff showing or feeling any signs of illness stay at home and are monitoring all recommended best practices to prevent and reduce the spread of COVID-19.

We thank you for your continued support and your willingness to accommodate the office modifications during this time. We are thankful for each of you, appreciate you entrusting us with your tax preparation, and wish you well as we collectively navigate tax season and work to stop the spread of Coronavirus.

Respectfully,

Tony Delevati and the Ullrich Delevati Team

Helpful Links:

Learn More about COVID-19

Symptoms of COVID-19

How to Protect Yourself