Agencies delaying, deferring tax payments
With the coronavirus outbreak, public agencies are trying to deal with keeping services going while staying safe. And to that end, the agencies that deal with taxes are delaying filing or deferring payments to a later date.
Lawrence County Treasurer Stephen Dale Burcham announced that delinquent property taxes are being deferred in certain conditions.
“Due to the economic impact of the ongoing coronavirus pandemic, any individual who has suffered a loss of employment or a reduction in business will be allowed to defer any payments due from March 20, 2020 through April 19, 2020 to the end of their current contract without additional penalty or interest,” he said. “The possibility of a further extension will be evaluated on a case by case basis if necessary.”
He asked that people call his office at 740-533-4305 to take advantage of the extension. Otherwise, the payments will continue to be due as agreed upon.
“This is a challenging time for all of us as we address this pandemic. Together, we can help one another through this,” Burcham said. “My staff and I are here to help. Please call if you have any questions.”
On Tuesday, the IRS announced that they were extending the tax payment for three months past the standard April 15 deadline.
On Wednesday, the U.S Treasury and the IRS issued guidance on their website that “all individual and other non-corporate tax filers to defer up to $1 million of federal income tax (including self-employment tax) payments due on April 15, 2020, until July 15, 2020, without penalties or interest.”
The agencies did say that everyone should still file their returns by the April 15 deadline because many will get a tax refund.
Those filing will be able to take advantage of their refunds sooner,” said Treasury Secretary Steven T. Mnuchin. “This deferment allows those who owe a payment to the IRS to defer the payment until July 15 without interest or penalties. Treasury and IRS are ensuring that hardworking Americans and businesses have additional liquidity for the next several months.”