By Anthony Diosdi
The Wall Street Journal recently reported that in response to the coronavirus outbreak the Trump administration will most likely delay the deadline for filing individual income tax returns. At this point it is unclear how long the deadline would be extended or who would be eligible to delay the filing of their tax returns. The Trump administration plan may also waive penalties associated with not timely filing tax returns, penalties associated with not timely paying taxes, and interest associated with not timely paying tax liabilities.
The details of this Trump administration’s plan are still being worked out. As more details are available, we will write a complex article discussing the details of the plan.
Anthony Diosdi is a partner and attorney at Diosdi Ching & Liu, LLP located in San Francisco, California. Diosdi Ching & Liu, LLP also has offices in Pleasanton, California and Fort Lauderdale, Florida. Anthony Diosdi advises clients in tax matters domestically and internationally throughout the United States, Asia, Europe, Australia, Canada, and South America. Anthony Diosdi may be reached at (415) 318-3990 or by email: adiosdi@sftaxcounsel.com.
This article is not legal or tax advice. If you are in need of legal or tax advice, you should immediately consult a licensed attorney.