Cash Management Tip Five

Cash Management: Tip Five

For individuals and businesses with a federal tax liability, consider...

deferring up to (i) $1.0 million of personal income taxes due on April 15, 2020 on balances due for 2019 and 2020; and (ii) $10.0 million of corporate income taxes due on April 15, 2020 on balances due for 2019 and 2020
contacting the IRS to cancel automatic debits for tax payments scheduled for April 15, 2020 and paying balance due by July 15, 2020 with a check
adjusting 2020 estimated tax payments for individuals and businesses based on projected taxable income for the entire tax year
claiming payroll tax credit for business and self-employed individuals for paid leave for qualifying individuals
filing your Federal tax return earlier than July 15, 2020, the new deadline in light of the coronavirus outbreak, if you are owed a tax refund to get your money on a timely basis

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