Dear Clients and Friends of Smith Leonard,
The world is rapidly changing, and so must our approach to business. We are committed to keeping you informed and to delivering the top notch service you have come to expect from Smith Leonard. As such, we want you to be aware of several key updates:
Payment Relief for Tax Owed
The IRS and US Treasury have announced a 90 day reprieve on taxes owed for individuals and corporations. Individual and pass through entity filers will have a 90 day delay in paying income taxes owed, up to $1 million. Corporate filers will have the same 90 days but for $10 million. During that time period, Taxpayers will not be subject to interest and penalties. This guidance is for federal returns only. Individuals are still encouraged to file by April 15th. We will keep you updated as guidance changes for either federal or state returns.
Smith Leonard to Close Offices and Work Remotely
In light of the global coronavirus (COVID-19) pandemic, the firm has made an important decision regarding the status of all Smith Leonard offices. Effective close of business March 17, all SL professionals will be working remotely through the end of March or as circumstances dictate. During this time, all SL offices will be closed.
Please be assured that while we remain focused on the health and safety of our professionals and those around us, we also are dedicated to providing continued service to our clients. We will make every effort to deliver the level of quality, excellence, and timeliness you are accustomed to during these unique circumstances or will adjust expectations accordingly as things shift for you or us. Smith Leonard is here for you.
We remain dedicated to our client relationships. If we need to adjust how an engagement is approached due to your changing requirements or ours, we’re committed to being nimble and collaborative. We will continue to offer proactive communication on all engagements in order to meet your deadlines. Additionally, if you have a business concern, please let us know. Our vast network of resources may be of help to you, and we are happy to connect you to them.
The situation is quickly changing and we do not know how long this policy will be in effect, yet we are prepared to serve clients remotely for an extended period, if needed. We will communicate any updates to you as they occur.
As we work through this national emergency together, we want to thank you for your understanding and flexibility with us as we do our part to keep our employees, clients, and communities safe. We are grateful for your continued trust in Smith Leonard. We hope you and your family remain safe and healthy.
Please contact your SL advisor with any questions or concerns.
Smith Leonard PLLC