Deadlines, IRS, Oregon and Moving Targets.

Growing up, I was a huge fan of Bob Barker and The Price is Right.  Couldn’t tell you why, but loved me the bids, the wheel, the Showcase Showdown and Bob’s signature ending, reminding everyone to get their pets spayed and neutered. 

During this current crisis, I feel compelled to start off and end nearly everyone conversation with friends and family with I love you and be good to each other.  Many of you have been with us from the beginning.  We’re truly sorry for the impact that this is currently having on everyone personally.

Apologies for delay in posting this, but really wanted to have the details fleshed out further prior to posting.  As many of you doubtlessly heard by now, the IRS is extending the April 15th deadline to July 15th, for both filing and payment.  This is an automatic extension and one that does not need an extension filed for.  Here is a direct link to an IRS announcement on this from March 21st.

Here’s a working link to a Oregon Department of Revenue link from March 21st, 2020 saying they expect have an announcement/decision on Wednesday, March 25th.  When they make that announcement, we will update our website.  Previously, Oregon’s guidance had been that they are tethered to the IRS on this for filing and payment.  Here is a direct link to an Oregon Department of Revenue announcement from March 13th.  If you follow that link, it’s now a 404 notice.  My best guess is, given the current economic environment and past-history, Oregon will continue to follow the Fed with regards to filing and payment deadlines, but we will keep you posted.

If it feels like everything is a moving target, that’s because it is. 

Luckily for us and you, our robust digital workflows and this deadline extension allow Go Green Tax to open our calendars back up and continue working as your trusted advisors. Access our online calendars and secure an appointment to work with our team and make sure you’re getting the most from your 2019 return and do so from the safety of your home. As mentioned in our last blog post, we are holding all our tax appointments remotely for the protection of our clients and our staff. By utilizing Go To Meeting, we are able to do a real-time screen-share to make sure our clients have a good understanding of their return and what is being filed, as well as confidence for the year to come.

Our client portal platform, Canopy, offers an easy-to-use App that allows you to upload forms, sign documents, and pay invoices.

But there are resources out there right now for relief:

  1.  Federal Student Loans-  Can skip two payments with no interest.
  2.  Business loans-  $300 Billion worth of loans to small business.  May be forgivable. 
  3.  Contact your mortgage company as I am hearing from a few clients of mine of suspended payments.

Hang in there.  Be good to yourself and one another.  Call up a friend and tell them you love them.  The Sun continues to come up and there will be better days ahead. 

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