Current COVID-19 Update
As the Coronavirus crisis poses a real and serious threat, we feel it is our responsibility to do everything we can to help curb the severity of this problem. In response to recent events, Westbrook & Co., PC is taking the necessary steps to protect the health and well-being of our clients and staff, while continuing to serve your tax preparation and accounting needs. We have been advised to limit interaction between people. A few of the changes we are making at this time include: the restriction of clients to the lobby area of our office for dropping off materials – a drop box will be located directly inside the entry, in-office client appointments are suspended until further notice, and all completed tax returns are being mailed directly to the client to eliminate the return to the office for pickup. All materials, whether dropped off or mailed, will be quarantined for three days prior to handling, therefore we encourage you to scan and email or fax documents needed to complete your returns. Client’s will also be encouraged to use our esign resource to sign engagement letters and e-file authorizations to expedite the filing of your tax return. We have our technology in place to have virtual face-to-face meetings or we can complete our tax return discussions via telephone. In addition, our staff are encouraged to continue working from home or increase working from home as much as possible, thus you may receive a call from an unknown cell phone number from one of our team members.
The IRS has provided an automatic extension of time to pay income taxes until July 15, 2020. Taxpayers and small businesses that traditionally face an April 15 tax deadline will be allowed more time to pay their taxes due, with no penalties or interest charges. You will need to file an automatic extension for time to file, as usual, if your return is not filed by April 15, 2020. All individual U.S. taxpayers qualify for this extension and do not have to file any special paperwork or extension requests for time to pay, as the deadline will be automatically extended. Taxpayers owing taxes can defer payment of up to $1 million in taxes until July 15 and corporate files can defer tax payments of up to $10 million.
It is expected that most state legislatures are likely to follow suit, since most taxpayers file their federal and state income tax returns at the same time, but be sure to check with your state before making assumptions. As of the time of this writing, Missouri and Kansas have yet to announce their plans.
Please contact our office at 816-776-3584 if you have questions or concerns. This is an ever changing environment and we are monitoring it closely. As the situation progresses, we will make changes as needed. We appreciate your patience and hope you stay safe in this volatile time. We will all get through this together.