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Virginia Tax Due Date Extended

 
Virginia Tax Due Date Extended
April 27, 2020
 
Dear Friends and Clients,
 
During the April 22, 2020 Reconvene Session of the Virginia General Assembly, both chambers approved Gov. Northam's amendments to the state budget to waive any interest on income tax payments originally due May 1, 2020 that have now been extended to June 1, 2020.  
 
These amendments apply for the 2019 Virginia tax payments and 2020 estimated tax payments.
 
There will be no interest or penalty assessed if the 2019 Virginia tax liability and any 2020 estimated tax payments which would normally be due May 1, 2020 are paid in full on or before June 1, 2020. 
 
This is welcome relief. 
 

April 13, 2020

 

2019 Tax Return Status Update
 
We hope that you, our friends and clients, are doing well in this uncertain time and have found a safe place to hunker down.
 
The original due date for the 2019 federal income tax returns was April 15, 2020. Due to the COVID-19 pandemic this date has now been extended to July 15, 2020. This federal extended due date covers: 
 
  • Filing of the 2019 tax return
  • The payment of any 2019 federal balance due payment
  • Any 2020 first quarter estimated tax payment

Maryland has enacted the exact same provisions for both the 2019 return, 2019 balance due payment and any 2020 first quarter estimated tax payment.
 
The District of Columbia has extended the due date for the filing and payment of the 2019 return and any balance due until July 15, 2020. DC has not extended the due date for the first quarter 2020 estimated tax payment which is April 15, 2020.
 
Virginia has extended the time for payment of the 2019 return and the 2020 first quarter estimated tax payment from May 1, 2020 to June 1, 2020. Late payment penalties will not be assessed if any balance due is paid by June 1, 2020. Under the current law Virginia will assess interest (not to be confused with late payment penalties) from the original due date of May 1, 2020 to date of payment. Gov. Northam has submitted a budget amendment to waive any interest on income tax payments originally due May 1, 2020 if the payment is made by June 1, 2020. This budget amendment is to be presented to the Virginia General Assembly for their consideration on April 22, 2020.
 
This tax filing season has presented us with significant challenges due to the COVID-19 pandemic, government stimulus loan and forgiveness programs, extensive tax legislation, office closure and working remotely. In some cases these events have delayed the preparation and review of the 2019 tax returns to our firm standards. The federal and state governments have provided extensions of time to file and pay and we consider this good news for both you and us. In certain cases, we will need these relief extension provisions. We sincerely ask for your patience and understanding as we are working diligently to be sure that all clients will be aware of any tax payments that are due as soon as possible. 

March 31, 2020

 
 
O'Connor, Desmarais, & Bolyard is committed to responding as quickly as possible to tax legislation changes and other current developments regarding COVID-19 (Coronavirus). We will continue to share helpful resources related to tax changes and other key issues as they develop to ensure you are prepared to navigate these unprecedented times.
 
To read selected highlights regarding Coronavirus Aid, Relief, and Economic Security (CARES) Act click here.
 
To read more about the significant funding for affected small businesses click here for Small Business Loans Guidance and Resources .
 
As always, please contact us with any questions or concerns.
 
 
 
March 23, 2020
With the declaration of a state of emergency, we want to inform you of O'Connor, Desmarais, & Bolyard's (ODB) client and team safety precautions and measures:
 
  • Beginning Monday, March 23, the offices of ODB will be closed.
  • We encourage you to use our secure Client Portal to provide us with your tax information and documents.
 
  • Please contact Colleen Sutherland at colleen@odb-cpa.com to confirm your portal is linked to your most current email.
 
  • Paper documents should be sent via USPS or FedEx.
  • ODB staff continue to work remotely. We have the technology in place to allow our team members to work efficiently and securely away from the office.
  • Client meetings will be held by phone or video conference.
  • All tax returns will be delivered digitally or, if requested, by mail.
  • Arrangements for paper copies to be picked up can be made once the offices reopen.
 
Links to Resources
 

 
 
 
 
 
O'Connor, Desmarais, & Bolyard is committed to responding as quickly as possible to developments regarding COVID-19 (Coronavirus) and to keeping you informed. We will continue to share helpful resources related to tax changes and other key issues as they develop to ensure you are prepared to navigate these unprecedented times.
 
As always, please contact us with any questions or concerns.
 

*Remembering our co-founder Terry O'Connor*

  • Telephone...
  • (703) 448-0464
  • Fax...
  • (703) 734-6912
  • O'Connor, Desmarais, & Bolyard, PLLC
  • 6720 Curran Street
  • McLean, VA 22101

You can also send us a message directly through the contact page of this website.