March 24, 2020

Dear Clients:

During these difficult times, our firm continues to work, preparing income tax returns and providing information to you, our clients about tax and financial matters. Here are recent developments:

  • As you may already know, the IRS has moved the due date for tax return filing and for the payment of taxes from April 15th to July 15th. This includes tax returns and taxes due for individuals, trusts, estates, and corporations. It also includes April 15th, 2020 1st quarter estimated payments. If such taxes or estimated payments are paid by July 15th, no interest or penalties will be imposed.
  • Changing the due date to July 15th means additional time to put money in an IRA, Roth IRA or HSA. However, we recommend that if you plan to put money in an IRA for 2019, do so before April 15th. If you wait until after April 15th, be sure the IRA custodian credits the contribution to 2019. If you have any questions about IRA or retirement plan issues, please call.
  • We can now confirm that Vermont has also moved its due date for income tax returns and income taxes due on April 15th to July 15th. This covers tax returns and taxes due for individuals, fiduciaries, and corporations as well as 1st quarter 2020 estimated payments. In addition, property tax homestead declarations and property tax claims are now due July 15th.
  • Also, Governor Scott has provided some relief for businesses who would otherwise owe Sales and Use tax or Meals and Rooms tax due March 25th and April 25th. Businesses unable to meet the March 25th and April 25th filing deadlines will not be charged any penalty or interest for late submissions.
  • Earlier, New York State also followed the IRS in moving its tax due date to July 15th. Other states seem to be conforming as well.

Despite the added time to file your return, we recommend that you file as soon as possible, especially if you are due a refund. We will continue to process the work we have received. If you are planning to bring in your information, remember to drop it at the entryway to our office on the small table we have put there. We will go through your information and call you if necessary.

Please contact us with any questions during this challenging period. We are here for you.

Lee, Rob and Jen

March 17, 2020

Dear clients:

We are writing to assure you that we are still very much here for you during these uncertain times.

Our office continues to work, making sure your tax needs are met and required returns filed timely. As per guidance set forth by federal and state officials, we are practicing social distancing in the interest of public health for you and our staff. What does that mean? We are encouraging clients to reach out by phone (802-362-1946) or email instead of in person whenever possible. We have a client portal that can be used for secure sharing of information. If you are not already set up on it, please contact us. All we need is your email address. Should you need to drop off material, we do have a mail slot. If you must come in to pick up or drop off material, we ask that you keep your visit short.

You may have heard that the April 15th filing deadline will be extended. However, nothing official has been announced, either by the IRS or States. Regardless of what happens, we have every intention of fulfilling our responsibility to you, our valued clients, to have your tax returns filed on time.

Thank you for your support during this challenging period.

Spivey Lemonik Swenor PC
Lee, Rob and Jen