On March 13, 2020, the President issued an emergency declaration in response to the ongoing Coronavirus Disease 2019 (COVID-19) pandemic. The emergency declaration instructed the IRS to provide relief from certain tax deadlines.

As a result, the IRS has extended the deadline to pay a federal income tax balance due. Effective for federal income tax payments that are due by April 15, 2020, the new extended payment deadline is July 15, 2020. This extended payment deadline applies to a balance due of up to $1 million for individuals, regardless of filing status, and up to $10 million for C corporations that do not join in filing a consolidated return.

The extended payment deadline applies solely with respect to federal income tax payments, including payments of tax on self-employment income due on April 15, 2020, and federal estimated income tax payments, including payments of tax on self-employment income due on April 15, 2020.

The period beginning on April 15, 2020, and ending on July 15, 2020, will be disregarded in the calculation of any interest, penalty, or addition to tax for failure to pay the federal income taxes postponed by Notice 2020-17 (n-20-17) , up to the $1 million threshold for individuals and $10 million threshold for C corporations. Amounts in excess of these thresholds are still subject to interest and penalties if paid after the April 15, 2020 payment deadline.

Notice 2020-17 (n-20-17) does not extend the payment or deposit of any other type of federal tax. The notice also does not extend the filing deadline for tax returns and information returns.

UPDATE from State of Oregon: The department is tied to the Internal Revenue Service filing and payment due dates for personal income taxes. If the IRS declares the April 15 due date to be extended due to the COVID-19 pandemic, Oregon will automatically connect to those dates for personal income tax filers (Oregon notice).

What are the other states doing find out HERE

Treasury Department Release Notice HERE

IRS COVID-19 Page

Due to the recent increase in Covid-19 cases we are asking all clients to please not come into the office if you have been sick, think you are getting sick, have a fever, have been out of the country to one of the infected areas or exposed to anyone you think might have been exposed.

We are doing this not only for our staff’s protection but for yours also.

If you are needing to bring in or pick up tax documents. We have a drop slot in the door that can be used to drop off documents. For pick ups we can mail them to you or send you digital copies through the secure portal.

If you have any questions we ask that you please give us a call (541)738-4313 or send us an email kelly@nwtaxaccountingllc.com

Thank you in advance for your understanding

Kelly & Nancy

Latest update from the Benton County website

COVID-19, or novel coronavirus, is a type of virus that has only spread in people since December 2019. Health experts are concerned because little is known about this new virus.

UPDATE: 3/12/20

At this time, there are still no known presumptive cases in Benton County. We are aware of and awaiting results on a single test and will communicate immediately if results are positive.

COVID-19 testing criteria and processes are rapidly evolving. Prior to this week, Oregon healthcare providers seeking testing of their patients submitted requests through County health departments. Now that testing is becoming more available through hospitals and private labs, medical providers will use their judgement to respond to individual patient conditions and risks. Providers submit their requests directly to the Oregon Health Authority; county health departments are notified about tests once results are completed. Benton County will report any presumptive cases as we are notified.

As of 3/12/20 there are 21 positive COVID-19 cases in Oregon. Oregon Health Authority (OHA) epidemiologists are working closely with public health investigators in counties with cases to identify close contacts of the cases.