In response to the coronavirus (COVID-19) pandemic that is affecting our nation, the IRS has extended the 2019 federal income tax deadline to July 15, 2020. According to the IRS, "this relief applies to all individual returns, trusts, and corporations...[and is] automatic - taxpayers do not need to file any additional forms or call the IRS to qualify." First quarter estimated tax payments for the 2020 fiscal year are also included in this tax relief, with the same deadline of July 15, 2020.
Please note that this extension applies only to federal income tax, not state. While most states have also extended their tax deadlines, it is important to check directly with your state department.
At Paramount Tax, our Utah tax advisors are working diligently to support our customers in these trying times. If you have any questions about tax preparation, feel free to contact us. We are still open and operating, but we have made a few essential adjustments in order to protect our staff and customers. We are offering tax preparation services electronically, via drop off or mail-in, and in office hours (with some exceptions) - see more here.
The whole entire Paramount Tax staff wishes you and your family a healthy future ahead. We understand that times like these bring financial uncertainty and our expert accountants are available to help. Contact us today for a consultation.
Many people do not know how a professional tax and accounting firm differs from a bookkeeper or tax preparer. The main difference when working with a professional tax and accounting firm, such as Paramount Tax & Accounting, is that our firm utilizes the services of CPAs, EAs, and Attorneys who are distinguished from other finance professionals by stringent qualification and licensing requirements. Paramount has worked hard to create relationships to deliver the value that our clients expect. In fact, our goal is to be the No. 1 tax advisors firm in America. So when you ask yourself, "Where can I find tax advisors services near me?"... think no further than Paramount Tax & Accounting!
Whether you are filing personal taxes or you own a business, if you are not already using a professional tax and accounting firm, you have most likely already missed out on major tax benefits, deductions and credits. This is because a professional tax and accounting firm utilizes licensed professionals such as Certified Public Accountants (CPAs), EAs and Attorneys, who can not only advise individuals on personal financial matters but who are qualified to advise businesses, financial institutions, nonprofit organizations and government agencies on a wide range of financial topics. Our strict standards ensure that we understand the complicated tax laws and how to implement strategies that return the most benefits to individuals and businesses. Give Paramount Tax & Accounting a call or visit our tax and accounting firm for a free consultation.