Welcome back! Ask questions, get answers, and join our large community of tax professionals.
cancel
Showing results for 
Search instead for 
Did you mean: 

Treasury extension for April 15 tax payments

Highlighted
Level 2

With respect to the Treasury tax payment extensions how and when are you advising clients to pay their April and June 2020 tax estimates?

Labels (1)
0 Cheers
1 Solution

Accepted Solutions
Highlighted
Level 7

Wait until we have facts to answer these questions.  Same with paying for trusts, and anything else.  No official rules are out yet.

View solution in original post

2 Replies 2
Highlighted
Level 7

Wait until we have facts to answer these questions.  Same with paying for trusts, and anything else.  No official rules are out yet.

View solution in original post

Highlighted
Level 10

I think it's too early to tell.  Ask me again in 3 1/2 weeks.

The reality is that underpayment interest is much cheaper than credit card interest.  So if there is potential for the client to have cash flow problems they are likely in a better position to know where to "invest" their money.  Keeping the electricity on and buying groceries is a higher priority than keeping square with the IRS.

Rick