Domani Wealth Offices Closed September 24th                                                                    

All Domani Wealth offices will be closed on Tuesday, September 24, 2019 for employees and their families to enjoy a special Appreciation Event in recognition of the team’s work and dedication to providing quality service to clients throughout the year. If you have an urgent matter and need immediate assistance on this day, please contact your advisor on their cell phone.

We appreciate your understanding.

2020 Tax Deadlines: The Latest Updates

Post Written by: Angie M. Stephenson, CFP®, CPA/PFS

Updated March 24, 2020

As a result of the COVID-19 Pandemic, lawmakers have extended tax deadlines with the goal of helping individuals and businesses during these challenging times. Below are some of the changes that may impact you and your family.

  • The deadline to file your 2019 federal tax return and pay any taxes due, regardless of the amount, has been extended to July 15.
    • The IRS is still planning to continue with processing refunds. Taxpayers who are expecting a refund are encouraged to work with their accountant to file their returns as soon as possible.
  • 2020 Federal Quarterly Tax Estimates
    • The 1st quarter tax estimate deadline has been extended to July 15.
    • At this time, it remains unclear if the due date for the 2nd quarter estimate will remain June 15. If the due date remains June 15, there may be a planning opportunity to file an extension for 2019 and utilize a technique that would allow for your 2nd quarter estimate to be paid with the extension and still count as being paid on a timely basis for the June 15 deadline. More to come on this – follow us on LinkedIn and our website for updates.
  • 2020 Pennsylvania Quarterly Tax Estimates
    • The 1st and 2nd quarter tax estimate deadlines have been extended to July 15. 
  • Local Tax Filings
    • As of now, no formal guidance has been issued on revised due dates for local tax filings.
  • 2019 IRA and Roth IRA Contributions Deadline Extended to July 15
    • When making a 2019 IRA contribution, it’s important to clearly designate it as a prior-year contribution.

Please note this guidance continues to evolve and change as more information is released. We will continue to update this blog post as additional details become available.

If you have questions and would like to discuss your personal situation, please do not hesitate to contact your advisor

Sources:
Internal Revenue Service
PA Department of Revenue
American Institute of Certified Public Accountants
Pennsylvania Institute of Certified Public Accountants

 
 

Important Disclosure

Please remember that past performance may not be indicative of future results. Different types of investments involve varying degrees of risk, and there can be no assurance that the future performance of any specific investment, investment strategy, or product will be profitable, equal any corresponding indicated historical performance level(s), be suitable for your portfolio or individual situation or prove successful. Due to various factors, including changing market conditions and/or applicable laws, the content may no longer be reflective of current opinions or positions. Moreover, you should not assume that any discussion or information contained in this article serves as the receipt of, or as a substitute for, personalized investment advice from Domani. A copy of Domani’s current written disclosure brochure discussing our advisory services and fees continues to remain available upon request.

PLEASE SEE ADDITIONAL IMPORTANT DISCLOSURE INFORMATION

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