The U.S. Treasury Announcement: The Federal Income Tax Filing Due Date is Automatically Extended from April 15 to July 15
We hope this finds you well, as we indeed currently live in unusual times.
Recent updates to the Federal Income Tax Filing Dates were changed. Following our commitment to keeping you informed we wanted to briefly update you on some recent developments in the tax and business realm.
Last weekend (IRS, 03.21.2020) the US Treasury announced that the federal income tax filing due date is automatically extended from April 15 to July 15. The previously announced extension of time to pay 2019 income taxes due ...
Business owners and individual taxpayers are constantly in a natural tug-of-war with governments and their tax authorities. It is well understood that the world's oldest profession isn't the one they reference in movies and school textbooks but more likely is tax evasion. While tax evasion is illegal, wrong, and in some countries is even a capital crime, tax avoidance is universally legal, moral, ethical, and prudent.
Of course, the difference between avoidance and evasion is frequently in the eye of the beholder. A revenue officer far too frequently sees evil whereas the taxpayer sees smart structuring.
While there are ...