Update: April 2, 2020

Tax Deadline Update: All states have now extended their personal income tax deadlines. 38 states, including New York, New Jersey, California, and Connecticut have extended to July 15. A select few have other due dates. New York City Unincorporated Business Tax is still due on April 15.

Although the deadlines have been extended, it is suggested that you still speak with your tax preparer before April 15. Every state has different legislation around the extension and the best way to fully understand and confirm your filing requirements is to speak with your R&F partner.

Update: March 20, 2020

Tax Deadline Update: A day after announcing an extension for payments only, the IRS has changed course and announced that the filing deadline will also be extended to July 15. Many states intend to follow, including New York, Connecticut, New Jersey, and California. Stay tuned for further details. For now, we advise all clients stay on course for an April 15 filing until there is an official announcement from both the IRS and the states that you are required to file in.

Update: March 19th, 2020

To our community of clients,

As the impacts of the coronavirus outbreak continue to affect us all, we would like to provide an update on what the plan of action is here at Raines & Fischer.

First and foremost, the health and safety of our staff and clients is our top priority. We are doing all that we can to ensure their comfort and safety while maintaining the level of service that you are used to receiving.

In many ways, we are operating business as usual in order to accommodate your filing requirements in a timely fashion. However, to cooperate with the recommendations of health officials and government mandates, we are limiting the amount of staff that will be working physically in the office. Many staff members and partners will be working remotely until further notice. Because of that, we hope that you can understand the following:

  • We urge you to send all of your tax documents electronically. Our e-mail server is secure and has capacity to receive your tax documents. We can also utilize many file sharing platforms such as Dropbox, Google Drive, One Drive, etc. if that is your preference.
  • If you are unable to share documents electronically, we are accepting packages while delivery services are still operating. There may be a delay in the preparation of your return as most of our staff plans to commute into the office one day a week, if at all.
  • Our phone systems are still operating. However, our availability in answering is limited. Therefore, we request that you reach out via e-mail to whomever you would like to speak to. All of us that are working from home can communicate from our home and cell phones.

April 15 Tax Deadline: The deadline to file your return or an extension is still April 15. If you owe money, the IRS has extended the deadline for individuals to pay (up to $1M) by 90 days, to July 15. Some states may follow, but as of this communication, only a select few are offering a payment extension. Please take following into consideration as it relates to the filing deadline:

  • You still must file a formal extension or full return by April 15
  • There is no current extension to pay with New York State; it is still important for us to determine your liability before April 15 for your New York tax return
  • If you are expecting a tax refund and/or you have the means and information available to file now, we still urge you to send in your information as soon as possible

We are closely monitoring federal, state and local governmental and tax related developments. We will continue to communicate with you as major changes occur.Many of you are directly affected by this crisis. We are grateful for your trust and confidence in us as we help you navigate through this uncertain time. Now more than ever, communication is essential. Please reach out with your thoughts, concerns and expectations as we approach April 15.

We wish you and those close to you the best in health and safety.

Raines & Fischer LLP
555 Fifth Ave – 9th Floor
New York, NY 10017