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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needed. This can be significantly cheaper too, since you do not have to provide them with benefits or vacations. But before you pull the trigger on utilizing an independent contractor, you should know that the IRS takes intentional misclassification of contractors very seriously. The IRS understands the financial incentives to using 1099 contractors and they know the temptation exists to classify a worker as a contractor when you truly view and treat them as an employee.
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represent the biggest changes to the tax code in over 30 years. So if you haven’t thought about preparing your taxes for 2018, you’ll want to get a jump on it.
