As of September 18, 2017, power has been fully restored to the McDonald & Osborne, PA office.  We are still in the midst of cleanup in our complex, so if you stop by, please be aware of debris in and around our parking lot.  We hope you and your families are safe and beginning to put the pieces back together after this catastrophic storm. 

We have some updates from the Internal Revenue Service and would like to share those with you, as many of you will have questions and concerns.

The Internal Revenue Service has granted extensions until January 31, 2018, for any tax return, extended tax return, or tax payment that was due on or after September 4, 2017.

What this could mean for you:

• Individual taxpayers on valid extension through October 16, 2017, now have until January 31, 2018, to file their tax returns (Form 1040).

• Calendar year partnerships, LLC’s and corporations on valid extensions through September 15, 2017, now have until January 31, 2018, to file their tax returns (Forms 1065, 1120 and 1120S).

• Calendar year estates and trusts on valid extensions through September 30, 2017, also have until January 31, 2018, to file their tax returns (Form 1041).

Additionally, the quarterly individual and trust/estate estimated 2017 income tax payments due September 15, 2017, and January 15, 2018, do not have to be paid until January 31, 2018.  Similarly, any corporate or foreign partner withholding estimated 2017 income tax payments due on or after September 4, 2017, can be postponed without penalty or interest until January 31, 2018.

Should you have any questions or concerns, please feel free to contact our office at 239-254-8161 or firm@mo-cpa.com.