As you may have heard, the IRS, as well as Massachusetts and Rhode Island, have announced that they will extend the due date for filing and paying taxes until May 11th for those people living in counties deemed disaster areas due to the flooding.
Despite this assistance, we feel that it is in the best interests of our clients to move forward with the expectation that the deadline is April 15th. Because it is very difficult to determine which counties people live in, as well as the significant number of states other than MA and RI which have not extended the filing date, we are encouraging our clients to file by April 15th. In addition, in the past when the deadline has been extended, the Federal and State governments have not updated their computers and have produced correspondence and penalty notices based on an April 15th deadline. We were able to resolve those notices in the past, but not without a significant amount of time and correspondence with great expense to our clients and to us. As such, we will continue to aggressively pursue the April 15th deadline and deliver the high level of service that our clients deserve.
If a client has been impacted by the floods, we will be taking advantage of all extensions and remedies possible in order to facilitate their tax filing requirements. In addition, the firm's Director of State and Local Taxes, Mary Bernard, has been researching the economic incentives and legislation available to assist those who are impacted by the floods. I encourage you to contact Mary if we can be of assistance to anyone impacted by this disaster. As always KLR stands ready to assist any company or individual in need of financial or tax advice.
Please feel free to contact any KLR team member in any of our four offices for assistance.