The IRS, state tax agencies and the tax industry have warned of a new text scam that tricks taxpayers into disclosing bank account information under the guise of receiving the $1,200 economic impact p...
The IRS has announced changes to help struggling taxpayers impacted by Coronavirus Disease 2019 (COVID-19) more easily settle their tax debts. Under the new Taxpayer Relief Initiative:Taxpayers who qu...
The IRS recommends e-filing of employment tax returns—Form 940, Employer's Annual Federal Unemployment (FUTA) Tax Return, Form 941, Employer's Quarterly Federal Tax Return, Form 943, Employer’s An...
The IRS released an early draft of the instructions to Form 1065, U.S. Return of Partnership Income, for tax year (TY) 2020. The draft included revised instructions for partnerships required to repo...
The IRS Small Business and Self-Employed (SBSE) business unit has released its Fiscal 2021 Focus Guide, titled "It’s Still the Time," to lay out the compliance and service strategies for the comin...
For calendar year 2021, the Ohio interest rate for underpayments and overpayments of income tax and sales and use taxes decreases to 3.0%. The interest rate for personal property tax and estate tax de...
Ohio Deadline Update 3/28/2020
On March 28th, Ohio Governor Mike DeWine signed HB 197 to, among other things, extend the filing and payment dates for state, municipal, and school district income taxes by the same period as any federal income tax extension granted in response to the COVID-19 disease outbreak. Effectively this changed the April 15th deadline to July 15th.
This is the first time in my career that major tax legislation has been passed during the middle of tax season. Fortunately the change in the filing/payment deadline gives us the time to gain an understanding of the new laws and make sure we are preparing your tax returns in the best way possible.
This has certainly been the most unsual and, in many ways, difficult tax season we've ever experienced. We appreciate your patience and understanding as we work to provide the highest level of service in these turbulent times.
IRS Tax Return Deadline Postponed
On March 18, 2020, the IRS issued guidance providing that it would waive penalties and interest on tax payments for 90 days, though not postponing the due date for filing 2019 tax returns. However, on March 20, 2020, Treasury Secretary Steven Mnuchin announced via Twitter that the IRS and Treasury have delayed the due date for filing 2019 tax returns to July 15, 2020. At this time, no further guidance has been issued. However, the Senate’s draft of the Corona Virus Aid Act released on March 19, 2020 also included a delay of the filing deadline to July 15, 2020.
It is expected that state and municipal governments will follow the IRS action and delay their due dates as well, but this is not confirmed.
Just like all of you, the Corona virus has affected our office and home lives. While we continue to work, we cannot be as efficient as we are under normal circumstances and, unfortunately, the pace of preparation and review of tax returns has slowed. As in the past, we will work on returns in the order they were received, but, at this point, we cannot guarantee that all clients’ returns will be finished by April 15th.
Since this is a rapidly changing situation, we will try to post updates here as information becomes available from reliable, official sources.
We appreciate your trust and confidence and ask for your patience during this unusual time. Please be safe, stay healthy and may God bless you and your families.
David R. Kirkey, CPA, CFP
Committed to Helping You Achieve Financial Success and Peace of Mind
Welcome to Kirkey & Co., Inc. and thank you for visiting our website. In addition to providing you with a profile of our firm and the services we provide, this website has been designed to become a helpful resource tool to you, our valued clients and visitors. Our dedication to superior client service has brought us to the internet as we endeavor to continue to provide the highest quality professional service and guidance.
The 2019 Tax Organizer, related forms and information for this tax season are available on the 2019 Tax Center page by clicking the menu above! Please be sure to read the note regarding preparation deadlines.
As you browse through our website, you will see that we have highlighted background information on our firm and the services we provide. We have also included useful resources such as informative articles (in our Newsletters section) and interactive financial calculators (in our Financial Tools section). In addition, we have taken the time to gather many links to external websites that we think would be of interest to our clients and visitors (in our Links section).
Please feel free to contact us with any questions or comments you may have - we would love to hear from you. We pride ourselves on being proactive and responsive to our clients' inquiries and suggestions.
Online Client Access
Current clients can securely access PDF copies of their current and prior year's tax returns on the ShareFile page! You can also use ShareFile to send us documents in a secure way. Please never use regular email to send us any confidential information.