Making sure that folks are able to comply with laws relating to financial reporting, tax returns, payroll, and the like are critical functions to ensuring that our economy stays moving as much as possible during these trying times.
We will remain open, with all but one employee working from home for the duration of the “Safe at Home” period declared by the county and the State.
“We’ve gone to virtually everyone in the company (working remotely), but because we need to be here for folks to drop off their documents and the like, we have curbside pickup,” said Santa Clarita CPA Matt Denny. “So if you need to bring your tax stuff into us or pick something up, just call up and (whomever is on duty at the time) can come down to see you.”
Denny & Company, LLP is continuing to monitor various tax agencies for updates and changes related to the coronavirus, COVID-19, pandemic, and Denny noted that the filing deadline for income tax purposes has been extended to July 15. “In addition, the deadline for paying 2019 income taxes, as well as 2020 first quarter estimates, is also July 15th . We ARE recommending that if you want to extend your individual tax return (to January 15th 2021, we believe), it would be a good idea to make that extension filing by April 15th if at all possible.
Given the high number of people who have been significantly impacted financially as a result of the coronavirus pandemic, Denny added that this is particularly helpful for those who owe money this year.
Those who expect a refund are likely to need it very quickly to help them get through the financial challenges associated with the coronavirus pandemic, Denny continued. In addition, Denny & Company, LLP is assisting a number of corporate clients in need of accelerated tax filings as a result of the coronavirus pandemic. “We’ve also had a number of folks who would like some of their corporate work accelerated because they’re going to be applying for SBA emergency loans (and other forms of assistance),” Denny said.