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Trump Administration to Delay April 15 Tax Deadline for Most Individuals
Trump Administration to Delay April 15 Tax Deadline for Most Individuals ^ | March 11, 2020

Posted on 03/11/2020 11:55:41 AM PDT by 11th_VA

The Trump administration plans to delay the April 15 tax deadline for most individual taxpayers as well as small businesses as part of an effort to mitigate the effects of the spread of the novel coronavirus, Treasury Secretary Steven Mnuchin said Wednesday.

Mr. Mnuchin said the delay would apply “to virtually all Americans, other than the super rich,” and said officials would likely announce a decision quickly...

(Excerpt) Read more at wsj.com ...


TOPICS: Front Page News; Government; Politics/Elections
KEYWORDS: coronavirus; incometaxes; medicare; socialsecurity; taxcutsandjobsact; taxreform; tcja
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I have a decent size corp tax bill due April 15th. I have a small business and phones have gotten real quiet. Something like this would help me tremendously.

What about 2020 quarterlies that are due on the 15th? That would really be nice.


41 posted on 03/11/2020 12:31:13 PM PDT by BuckeyeGOP
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To: 11th_VA

I have to subscribe to the WSJ to read the f’n article?!


42 posted on 03/11/2020 12:37:43 PM PDT by albie
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To: Osage Orange
I pay every Q...hard to get out of that.

It is trivial to get out of that.

Just don't send them any money. You will have to pay it all on April 15, but there is only a small penalty which amounts to the interest in the money for the time you didn't pay it.

Most years my stock market gains way outpace the "penalty" -- free money. Of course some years I get zapped. But overall it is a net gain. A low interest loan from Uncle.

43 posted on 03/11/2020 12:40:08 PM PDT by CurlyDave
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To: 11th_VA

I prepare taxes, and I figured this would happen.


44 posted on 03/11/2020 12:43:13 PM PDT by Fido969 (In!)
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To: JoSixChip

Helps to relieve stress


45 posted on 03/11/2020 12:48:37 PM PDT by Gene Eric (Don't be a statist!)
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To: Menehune56

As someone who Self Prepares with a family, I have already filed and received my refund about a month ago. For both Fed and State.


46 posted on 03/11/2020 12:57:49 PM PDT by surroundedinCT
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To: Buckeye McFrog

If Trump hasn’t thought of that, he should have.


47 posted on 03/11/2020 12:59:55 PM PDT by hardspunned
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To: Buckeye McFrog

Now that...


48 posted on 03/11/2020 1:09:37 PM PDT by crz
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To: philippa

Yep so it’s pretty meaningless because since you have to do your State taxes you’ll do your Fed at the same time.


49 posted on 03/11/2020 1:09:38 PM PDT by gibsonguy
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To: 11th_VA

Does this mean they will take their sweet time getting us our REFUNDS?


50 posted on 03/11/2020 1:17:56 PM PDT by montag813
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To: 11th_VA

Can I get the check I sent in … BACK?


51 posted on 03/11/2020 1:18:13 PM PDT by Uncle Miltie (Messaging to Snowflakes: They stole it from Bernie AGAIN!)
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To: 11th_VA

I don’t know why they are all excited about a payroll tax holiday. I think federal loans for impacted businesses would be a good idea, and a way to pay people who have to quarantine because of the virus.

Dumping a bunch of money into the laps of everybody currently working sounds nice, but I don’t see it fixing the economy from the coronavirus scare. I mean, the biggest thing people are worried about is not being able to work, and if you can’t work, a payroll tax holiday is useless.


52 posted on 03/11/2020 1:20:25 PM PDT by CharlesWayneCT
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To: 11th_VA

While people who are busy dealing with a virus will no doubt like to delay filing, it doesn’t help the economy. Most people get refunds, so not filing just keeps them from getting their money. I guess it helps people who owe money, if they don’t have to pay interest or penalties.


53 posted on 03/11/2020 1:21:51 PM PDT by CharlesWayneCT
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To: CurlyDave

Oh...hummm....So how much money are you talking about?
Reply privately ..if you want to.


54 posted on 03/11/2020 1:44:58 PM PDT by Osage Orange (Whiskey Tango Foxtrot)
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To: gibsonguy

Exactly.


55 posted on 03/11/2020 1:57:21 PM PDT by philippa
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To: Buckeye McFrog
Do you think he’s gonna delay it to Nov. 1? To have people riled about taxes just before the election?
Nah - October 15 more likely . . . POW!

56 posted on 03/11/2020 2:01:29 PM PDT by conservatism_IS_compassion (Socialism is cynicism directed towards society and - correspondingly - naivete towards government.)
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To: Buckeye McFrog
Bad news if you work for H&R Block

Bad news for ALL of the bricks&mortar tax preparers. Either ignore the procrastinating preparers OR keep the seasonal preparers on duty until ...? As one of these preparers, I have no idea how this will work out in the end. We, at H&R Block have a totally non-personal tax prep over the internet. No touching means no danger from contagion. Yet there is still a knowledgable, caring preparer, known by name, at the other end to do your taxes.

57 posted on 03/11/2020 2:27:59 PM PDT by SES1066 (Happiness is a depressed Washington, DC housing market!)
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To: Buckeye McFrog

Yeah. I do think so. Only 3 years ago, I forgot to file my taxes and didnt even do the letter for delay, and just filed around October. 3 years later, and not one “hey idiot, you were late, we’ll penalize you!” letter from the irs..


58 posted on 03/11/2020 3:18:08 PM PDT by max americana (Fired ONE libtard at work at every election since 2008 because I enjoy them crying)
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To: JoSixChip

For small business owners who do a lot of their own accounting, and (like me) their own taxes, this puts off a huge paperwork burden & worry.

I’d think we’d still have to make quarterly estimated tax payments, however.


59 posted on 03/11/2020 4:22:49 PM PDT by Paul R. (The Lib / Socialist goal: Total control of nothing left wort h controlling.)
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To: 11th_VA
Doesn't do the ones that are on the ball and have their act together to file early.

If you are like me and your CPA is swamped during tax season and an extension has to be filed, to keep the wolfs away from the door, if you take your data to him after 2nd week of January.

60 posted on 03/11/2020 5:03:00 PM PDT by eartick (Stupidity is expecting the government that broke itself to go out and fix itself. Texan for TEXIT!)
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