THE  FEDERAL AND MINNESOTA INCOME TAX DEADLINE TO FILE AND PAY HAS BEEN DELAYED UNTIL JULY 15TH, 2020.

Some things you should know:

  1. Federal 1st Quarter 2020 estimates are not due until 07/15/2020.
  2. Minnesota 1st Quarter 2020 estimates are still due on 04/15/2020.
  3. If we have already filed your 2019 income tax return and there is a balance due, the checks do not need to be mailed until 7/15/20.
  4. If you were going to have the funds electronically withdrawn from your bank (and you want to delay the payment), please call the IRS (1-888-353-4537) to make arrangements. To contact Minnesota, the number is 651-296-3781.
  5. The IRS is still processing refunds. It is their goal to deliver the refunds within 21 days of filing. However, some  clients are experiencing longer delays.
  6. If you are planning to do a Roth, IRA, or fund your HSA, you will now have until July 15th to do so.

Please contact your MKS tax adviser for more information.