The COVID-19 pandemic is more than just a health crisis—but an attack on our very society and everyday life. Behind the medical implications of the virus, no other aspect of our lives is more affected than our financial system. That said, the IRS recently announced that taxpayers and businesses will have an additional 90 days to file their taxes as well as pay their 2019 income-tax bills, giving them until July 15, 2020.
This announcement provides some relief to anyone who is experiencing loss of wages or who own businesses that have come to a screeching halt due to the crisis.
Unfortunately, this doesn’t lessen the stress on our direct community of CPA firm partners and aspiring accountants in the midst of busy season. With the new deadline being July 15, at least for the time being, this means our people are hustling now and will still be doing so for a few extra months. And now under new and unprecedented conditions. For example, many of our partners have transitioned their staff to work from home in order to lesson the spread of the virus. While this might sound great to some, many are now having to juggle busy season duties with caring for their children who are home due to school closures. Truly, nothing about this is easy!
However, we know that during these tough times, one thing remains certain: we’re all in this together! We look forward to the day, hopefully in the near future, when we can continue “Business as usual”. Until then, we hope everyone stays safe and sane in what will go down in history as the longest tax season ever!