The increasing rise in coronavirus (COVID-19) cases in the U.S. has ignited a series of new preventative protocols across the country. The collective health of our communities should always remain our primary focus. With that, the reality is that this worldwide medical event will have a direct and rippling effect on us all – professionally and financially. And while, at this point, most major events and gatherings have been postponed or even canceled entirely, many of us still have one pending, unavoidable action item left on our calendars: taxes.
Planning for Filing Taxes Amidst Coronavirus Concerns
There has been a lot of recent chatter, both on the news and online, about whether the federal government will extend the April 15th filing deadline for taxpayers due to concerns about the coronavirus. However, on March 20th, the U.S. Treasury made it official, extending both the filing and payment deadline to July 15, 2020 for 2019 income taxes. According to the IRS website, these extensions apply to federal filing and tax payments regardless of amount owed by the taxpayer.
Acena Consulting Prioritizes the Health of Our Employees and Clients
At Acena Consulting, we take the health of our team and partners very seriously. Like most businesses across the country, we've taken a closer look at our current practices to find ways to help do our part in proactively restricting the rising spread of COVID-19. As a preventative measure, Acena Consulting has canceled all unnecessary employee travel for business reasons until further notice. We are also using remote working capabilities to help limit the need for both staff members and clients to come into our office for consultations.
Additionally, over the last several days, Acena has connected with a steadily increasing number of business owners and financial professionals who are adjusting existing research and development practices and processes to ensure they remain socially conscious and limit unnecessary contact between staff members and outside clients, vendors, and partners.
If you're concerned about your R&D tax credit activities and how to adjust to changing protocols, Acena Consulting can help. Our team remains available for consultations and remote conferences to answer questions and develop solutions for our partners as we all redefine what "business as usual" looks like. Contact us today to hear more.