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IRS Deferring Tax Payments by 90 Days

IRS Deferring Tax Payments by 90 Days

by | 18 Mar | , , , , , , , , , , ,

Tax Deadline Remains April 15

While taxpayers still have to file their taxes by April 15, 2020, the deadline to pay taxes has been extended by 90 days until July 15, 2020.

During a March 17th press conference regarding the coronavirus pandemic, U.S. Treasury Secretary Steven Mnuchin announced taxpayers will have an additional 90-days through July 15, 2020 to pay their taxes, penalty-free and interest-free. 

He said individual taxpayers can defer up to $1 million of tax payments and corporations up to $10 million in tax payments.

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Plan for Tax Season

Plan for Tax Season

by | 30 Jan | , , , , , , ,

Many individuals may think the time to plan for tax season occurs during the tax season, which occurs after their tax year has ended.

Unfortunately, this is often too late to make any adjustments, which may have benefited the taxpayer.  

Similarly, businesses can also fall into this line of thinking and fail to plan for tax season during their tax year.

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Plan for Tax Season

Is This Expense Deductible In 2019?

by | 23 Jan | , , ,

iStock-1129640389_tax deductionThe tax code is long and complicated and oftentimes, taxpayers do not know what deductions or credits are available, which means they cannot take advantage of possible savings.

With so many changes under the 2017 Tax Cuts and Jobs Act and the 2019 SECURE Act now in place, changes have been made regarding the deductibility of expenses that both business and individual taxpayers may not be aware of. read more…

5 Reasons You Should Begin Planning for Tax Season NOW

5 Reasons You Should Begin Planning for Tax Season NOW

by | 10 Dec | , , , ,

It’s the 4th quarter. The holidays are right around the corner. The last thing you may want to think about is income taxes … but there are some compelling reasons why you should be thinking ahead.

Last year’s tax season saw the biggest change to the tax code in over 30 years. At the end of the tax season, we noted that one of the lessons learned was that individuals who engage us in tax planning early, on average, fared much better than those who did not. There are some very important reasons for this: read more…

Selling a Business: Personal Goodwill vs. Business Goodwill

by | 16 Oct | , , ,

Selling a business is a complicated transaction.  The long list of business and personal issues that need to be considered is extensive and at times, confusing.  Usually at the top of the list is the tax the seller will pay when the business sells.  When selling a business, properly structuring the transaction will minimize taxes owed;  ordinary tax rates for corporations are 21% and capital gains tax rates range from 15% to 20%. 

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Ask the Expert: I recently moved. I set up mail forwarding with the U.S. Postal Service, is there anything else I need to do?

Ask the Expert: Does my Company Qualify for a Tax Credit for Providing Family Medical Leave Act (FMLA) Leave?

by | 20 Jun | , ,

Under a new provision created by the Tax Cuts and Jobs Act (TCJA), for the tax years 2018 Ask-the-Expertand 2019 you may qualify for a tax credit if you set up or amend a paid-family leave program. Under Section 45S of the Internal Revenue Code, employers that voluntarily offer qualifying employees up to 12 weeks of paid family and medical leave annually under a written policy, may claim the credit.

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About Us

Since 1938, Zinner has counseled individuals and businesses from start-up to succession. At Zinner, we strive to ensure we understand your business and recognize threats that could impact your financial situation.

Recent Blog Posts

Electronic payment requirement will not affect 2024 tax returns

September 29, 2025 at 11:40 AM

There will soon be a big change for some taxpayers in how they send tax payments to the federal government or receive refunds. Executive Order 14247, Modernizing Payments to and from America’s Bank Account, is intended to modernize financial operations, reduce costs,...

New Ohio Withholding Rates Go Into Effect on Oct. 1

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Ohio employers and employees should prepare for an important payroll update this fall. Starting Oct. 1, the Ohio Department of Taxation will implement new state income tax withholding tables. The change was necessitated by the passage of House Bill 96, the state’s...

The Opportunities and Risks of AI to End Users

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Zinner & Co. joins the Ohio Accounting Talent Coalition

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Executive Order Requires Electronic Payment of Federal Tax

September 4, 2025 at 1:16 PM

On March 25, President Donald Trump signed Executive Order 14247, Modernizing Payments to and from America’s Bank Account. The Executive Order is intended to modernize financial operations, reduce costs, minimize fraud and eliminate inefficiencies associated with...

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