The Marston Group is closely monitoring events in light of the rapidly changing situation related to the Coronavirus (COVID-19) pandemic. The health and safety of our team members and clients is of utmost importance, as well as keeping you informed on any changes in federal or state tax deadlines that may affect you.
Health, Safety, & Convenience Considerations
We want to reassure you that our top priority has always been to deliver superior service to our clients. To do that in the current environment, we are taking every precaution possible to protect the health and safety of our team, our clients, and their families. If you need to drop off or pick up documents for our team members and would prefer to remain in your vehicle, please call us at (901) 761-3003 and request curbside service. When you arrive at our building, we will gladly send an employee down to pick up or deliver your information to you.
In addition, our employees have the technological capability to work remotely, and while our office currently remains open, we understand that this could change at some point, possibly on short notice, given the rapidly changing situation across the nation. We remain committed to ensuring that our operations continue to run smoothly, and that our clients are updated on circumstances that may affect them. Should we find the need to alter our normal office hours, we will notify our clients via an email announcement, as well as with information posted on our website and Facebook page.
Federal and State Tax Considerations
We receive regular updates from the American Institute of Certified Public Accountants (AICPA), which is the national professional association of Certified Public Accountants in the United States and the world's largest member association representing the accounting profession. Over the last few days, the AICPA has been involved in intensive communications with the Treasury Department and the Internal Revenue Service, urging both departments to provide immediate relief to all taxpayers in light of the uncertainty and challenges caused by the spread of the Coronavirus. Many states are currently in the process of providing tax relief for both individuals and businesses. We are monitoring these developments with regard to all federal and state tax filings and will provide updates as warranted.
With regard to federal tax filings and federal tax payments, the AICPA announced on March 15 that it anticipates the Treasury Department and the IRS will announce this week an extension of the April 15th deadline by as much as 90 days, and a waiver of penalties and interest for most taxpayers. Additionally, Treasury and the IRS are aware of the deadline for many businesses on March 16, 2020, and the challenges facing taxpayers and tax preparers in meeting that deadline. They have indicated that they would be generous in determining reasonable cause abatement of any penalties for taxpayers and tax preparers who are unable to file in a timely manner. We will notify you of any updates or clarification we receive regarding changes to normal tax deadlines.
We will continue to update you as we receive more detailed information and announcements on this important topic. We sincerely appreciate your understanding, patience, and support during this difficult and challenging time. If you have any questions or concerns, please do not hesitate to contact your TMG professional by email or telephone. Our website (themarstongroup.com) also contains the contact information for our staff. Thank you for your continued trust and confidence.
The Marston Group, PLC