CPA's Clark Schaefer Hackett | The Latest: More Tax Deadline Extensions; Main Street Lending Program

Tax Deadlines Extended for Individuals, Trusts and More

On April 9, the IRS expanded the tax deadline extensions already put in place in March. Generally, all Americans, including those living and working abroad, have until July 15, 2020, to file tax returns and pay taxes owed, without penalty. This extension also covers trusts, estates, corporations and other non-corporate entities.

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Understanding The Federal Reserve’s Main Street Lending Program

In addition to the PPP and the CARES Act, the Federal Reserve has taken added steps to support individuals and businesses, including the Main Street Lending Program. The program will provide support for small and mid-size businesses, provided they were in good financial standing before the crisis.

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IRS urges using electronic options, provides guidance on how

To protect the public and IRS employees, certain IRS services are currently on hold or extremely limited. For example, the IRS is not presently able to process individual paper tax returns and is encouraging taxpayers to use online tools.

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Looking for additional COVID-19 guidance? Visit our Coronavirus Resource Center

About Clark Schaefer Hackett (CSH)
Founded in 1938, Clark Schaefer Hackett (CSH) is a top 100 CPA and advisory firm with more than 450 shareholders and staff in 8 offices throughout Ohio, Kentucky and Michigan. Our passion is delivering results through remarkable relationships. We offer all the sophisticated services you would expect from a top tier CPA firm — but it is our commitment to service that sets us apart. We believe better relationships produce better results. We train our staff to create remarkable, results-oriented relationships with clients and with each other.

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