CCPA Whitepaper:

The 2019 Tax Deadline Extension

Your tax return is due 7/15/20:


  • The Federal tax deadline was extended from 4/15/20 to 7/15/20.
    • There will be no late penalties or interest assessed on 2019 tax payments made by 7/15.
    • This extension is for all individual and business returns that were due on 4/15/20.
    • This is extension does not apply to estate returns (Form 706)
  • State deadlines – Each state is passing separate legislation about the due dates. Many are falling in line with the IRS deadline of 7/15, others are choosing different dates.
    • NY, NJ, CA, CO, CT, DC, MA, PA, SC, NC have all been extended to 7/15
    • For any other state filing deadlines, please ask us for an update.

You have more time to contribution to 2019 retirement accounts and HSAs:


  • IRA contributions for 2019 are now due 7/15.
  • SEP contributions for 2019 are now due 7/15.
  • HSA contributions for 2019 are now due 7/15.

You have more time for 2020 estimated tax payments:


Our quarterly reminders will have specific instructions about due date changes throughout the year.

  • Federal 2020 estimates
    • Q1 2020 estimates are now due 7/15
    • Q2 2020 estimates are now due 7/15
  • State 2020 estimates
    • NY extended the Q1 estimate to 7/15
    • For any other state filing deadlines, please ask us for an update.

FAQs:


  • Your return was already efiled with electronic payments scheduled for 4/15 and you want to change the payment to 7/15
    • Federal payments – you may revoke (cancel) your payment by contacting the US Treasury at 888-353-4537. You must call to make a payment cancellation request no later than two business days prior to the scheduled payment date.
    • NY payments – cancel your scheduled payment at least two days before the direct debit date by calling 518-485-7884. When you call, have a recent return and your payment information available. (If you have an Online Services account with NY, login and use View and cancel scheduled payments.)
  • You have a current installment plan with the IRS, and wish to suspended payments until 7/15.
    • If you mail payments, you can just skip them.
    • If you have a direct debit agreement, and wish to suspend, please ask us for an update.
  • You owe taxes for prior years.
    • All IRS action for levies, suspension of passports and collection procedures are suspended until 7/15.
    • Let’s submit all requests for plans before the IRS reopens the collection process on 7/15!

Updated 04.10.20

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some of our clients

“A testimonial? five words.... there is no one better.”

“It is hard to believe we have worked with Carter CPA for over 40 years, originally with the founder, Jerald Elkins, and then with Jodi Carter for the past twenty years. We have had a relatively complicated tax situation stemming from one of us being a salaried employee, the other a business owner and our many ventures into real estate investments, both residential and commercial. Additionally, we have been primary residents of four different States over the years. Despite this and the changing tax laws on real estate and other investment strategies, Carter CPA has maintained the necessary expertise and advice that has allowed us to optimize our tax situation. The transition in technology over the years was extremely smooth and the service has remained at the highest levels. Carter CPA is defined by the word "professionalism.”

Joan Childs and Jerry Zaret

“I have been very fortunate to have Carter CPA by my side during the development of my new business. Jodi and her team have guided me through all of the financial and organizational challenges of a start up. Their knowledge and support has been instrumental, and I look forward to growing together. They truly understand my vision, and are proactive in helping me achieve my goals.”

Ian Velardi

“I am a free-lance medical writer and a children's book author -- now on the edge of retirement. For me, tax preparation was complicated and disorganized. For Jodi Carter, not at all. For many years now she has me orderly, and amused rather than confused about my taxes. Jodi has organized my financial transactions and transitions, shaped up the IRS for me, and has always been responsive to my questions and concerns — even if they are silly. Of all the "services" I have that make my life easier, Carter CPA tops the list.”

Jane Sarnoff

“For over 20 years, we have had great confidence in the services we have received from Carter CPA. Most recently, Jodi introduced us to the firm’s Financial Planning Services. She paired us with a Certified Financial Planner that is part of her team and together, they have been instrumental in developing a well balanced financial plan for our retirement. They are quick to respond to all our questions and concerns and most importantly we feel they truly have our best financial interest in mind. They are an impressive team and always a delight to work with.”

Tom and Barbara Dougherty

“A number of years ago, a close friend referred Jodi Carter to me when I need a good tax advisor. I have continued to work with her as I've found both her accounting and her communication skills to be excellent. More recently, when I needed help with financial planning and estate planning, she made recommendations of people and a process that has worked out extremely well. Spearheaded by Jodi, I now have a coordinated team of top professionals working diligently on my behalf.”

Lester Barnett

“Jodi is the consummate professional. In more than 20 years of working with her, I've learned to trust her implicitly, and she functions as the CFO for my two businesses. Her work and advice are invariably terrific, her responsiveness is unmatched, and her up-do-date systems enhance my business efficiency. It's exactly what you want in a CPA.”

Laura Schneider

“As a performer and consultant that I have been a long term “legacy” client working with Carter CPA, LLC for over 20 years. They have prepared my yearly taxes with a high level of expertise, great efficiently, accuracy and speed for so many years my gratitude cannot be overstated.

I would whole heartedly recommend Jodi Carter and the team at Carter CPA LLC to any individual or company for their financial needs."

Hal E. Gross

“Going through a divorce is emotionally and financially exhausting. Jodi and her team were extremely patient and helpful. They advised me about my finances, put together a monthly budget, prepared my taxes, reviewed my interim agreement and tax implications. I am finally on track and able to plan for my future wisely with their guidance.”

Michelle

 

 

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