Current Tax Filing Information
In the last week, we have seen tax deadlines and payment information change rapidly. It seems almost daily there is a new update. The Smith Leonard team strives to provide the most current information possible to our clients and friends. With different deadlines and rules that can vary from federal to state and quarter to quarter, see our summary of the status as of today for both Federal and North Carolina payments and filings.
March 23, 2020/Accounting and Auditing, Tax, Press Release, COVID-19
Families First Coronavirus Response Act Signed Into Law
The Families First Coronavirus Response Act guarantees free testing for the novel coronavirus (COVID-19), establishes emergency paid sick leave, expands family and medical leave, enhances unemployment insurance, expands food security initiatives, and increases federal Medicaid funding. Read more to find out the impact to employees and employers.
Breaking News: Tax Filing Deadline Changed to July 15
In an update from news earlier in the week about tax payment due dates being extended but the filing date remaining the same, Treasury Secretary Steven Mnuchin has announced that the April 15 deadline for filing tax returns will now be postponed until July 15.
Update: 2019 Federal Tax Deadlines
The Treasury Department and the Internal Revenue Service are providing special payment relief for individuals and businesses in response to the COVID-19 outbreak.
March 17, 2020/Press Release, COVID-19, Accounting and Auditing, Tax
Important News: Tax Payments Delayed; Smith Leonard To Close Offices, 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.
March 13, 2020/Accounting and Auditing, Tax, Press Release, Business Planning, Financial Planning, COVID-19
SL COVID-19 Response and Update
In this time of uncertainty, Smith Leonard is working diligently to ensure optimal client service while following policies and procedures that protect our team members, clients, and communities. Learn more about our readiness plan and how we are handling the impact of the coronavirus in our business.
Don’t Let Your Tax Return End Up in Your Spam Folder
New for the 2019 tax return filing season, Smith Leonard has partnered with SafeSend Returns™ to provide a better delivery system for our clients’ tax returns. Here’s how to whitelist these emails so they always make it to your inbox!
January 6, 2020/Business Planning, Tax, Financial Planning
January Tax Items
As we ring in the new year, Smith Leonard would like to remind you of a few upcoming changes and filing requirements for payroll, personal property taxes, and other compliance issues.
December 13, 2019/Business Planning, Tax, Financial Planning
2019 Year-End Tax Planning
As 2019 comes to a close, we encourage you to consider year-end planning to take advantage of opportunities to reduce your tax bill and prepare for the year ahead. View our business and individual tax planning guides.
Reminder Regarding Common Taxable Fringe Benefits
As 2019 draws to a close, we would like to remind you of the importance of reporting the proper inclusion of common fringe benefits in taxable wages for employees, officers, and shareholders. Fringe benefits are defined as a form of pay-for-performance of services given by a company to its employees as a benefit and must be included in an employee’s pay unless specifically excluded by law.
