Note: Our office remains open as we are considered an "essential business". We are limiting our face to face contact.
The deadline to file and pay personal income tax returns (federal and Illinois) is moved to July 15. This also applies to the 1st and 2nd FEDERAL estimated tax payments for 2020, normally due April 15 and June 15. However, while the 1st ILLINOIS estimated tax payment for 2020 is due July 15, the 2nd payment is due June 15.
Please note: the later you file, the more chance you give a fraudster to file a return in your name. We strongly encourage you to file as early as possible. Given the uncertainty inherent during these times, please get your tax information to us as soon as possible. You can mail, email or drop off. If you would prefer not to have contact with anyone, you can drop it in a box outside our office.
Treasury Secretary Steven Mnuchin announced that the IRS will waive interest and penalty charges for 90 days for Americans who owe up to $1 million in taxes. He encouraged Americans to still file their taxes by April 15.
"If you owe a payment to the IRS, you can defer up to $1 million as an individual — and the reason we are doing $1 million is because that covers pass-throughs and small businesses — and $10 million for corporations, interest-free and penalty-free for 90 days. All you have to do is file your taxes," Mnuchin said.