Tax Updates from COVID-19
Updated 11/17/2020

Beware of Scammers. There has been a marked increase in scams related to COVID-19. Please be very vigilant. As always, remember the IRS will never email you and rarely ever call you. If someone calls you stating they are from the IRS and you are not expecting their call, it is best practice to not provide any information and end the call. You can then call a known IRS number directly to follow-up on your account. 

Part I: Federal Income Taxes

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2020 Estimated Taxes

  • First and second installment due dates extended to 7/15/2020​

  • Third and fourth installment due dates remain unchanged:  9/15/2020 and 1/15/2021, respectively​​

Part II: 2020 State and Local Taxes Relevant to Our Clients

Tennessee

  • Franchise and Excise Tax (see the announcement here)

    • 2020 Estimated Taxes: The first estimated payment installment was extended until 7/15/2020​. The rest of the payments remain unchanged. 

Oregon

Oregon and City of Portland and Multnomah County Estimated Taxes were not extended. The first installment was due on 4/15/2020 

California

First & second installments of 2020 estimated tax payments extended to 7/15/2020.

Georgia​  

2020 first installment estimated payment extended to 7/15/2020.

Nebraska 

2020 first installment estimated payment extended to 7/15/2020

Oklahoma 

2020 first installment estimated payment extended to 7/15/2020.

Vermont

2020 first installment estimated payment extended to 7/15/2020.

Washington

B&O Tax quarterly filers:  Q1 now due 6/30/20.  B&O Tax annual filers:  now due 6/15/20

Washington DC 

2020 first installment estimated payment has not been extended​

Polaris Tax and Business Services, LLC

423.521.2045 (Chad)

423.521.5882 (Shannon)

info@polaristaxes.com