Last week brought many changes as the COVID-19 pandemic continued to grip the world, the U.S. and Ohio. In regards to what we do here at H&M, the announcement that the U.S. Department of Treasury will provide a three month extension for taxpayers to file and pay their federal income taxes owed in 2019….. was a big one.
We want to remind you that this development shouldn’t be interpreted as an invitation to sit on your tax materials and wait until closer to the new July 15 deadline to get everything for your return in order. Our tax team is still preparing and processing returns through our virtual office operations. Working with us now to have everything you need for filing, will still allow you to defer any payments you have due for your 2019 federal income taxes, but will give you the peace of mind that everything is in place to keep you fully compliant. Knowing your tax obligations now, will help you to better plan and manage cash flow needs for the next couple of months.
Our audit and business services teams are continuing to provide financial statements and outsourced accounting services as well. We are working with our clients to identify ways to continue performing these important services from a remote location. We do this for the benefit of your staff as well as ours.
We still have many avenues to get documents from you. We encourage you to reach out to your point of contact at H&M to make arrangements to get us everything we need to still be working on your respective tax returns, financial statements and other accounting needs. We can’t stress this enough… our entire team is working remotely, with absolutely everything they need to communicate with you and serve you. To keep you updated on the latest legislation from Washington and Ohio, we have a Resources link on our website for all topics related to COVID-19. Our team is available to help advise and answer any questions that you may have.