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Federal Tax Information
CARES Act/Economic Impact Payment ChecksOn March 27, 2020, the Coronavirus Aid, Relief, and Economic Security (CARES) Act was signed into law. This Act delays due dates for payroll taxes and makes other tax related rule revision and provides payments American individuals and families that meet certain financial criteria. The payments will be based upon 2018 taxes, or if they have already been filed, 2019 taxes. If you are not required to file taxes because you are a senior citizen, a social security recipient, or a railroad retiree, the payments will be based on either Form SSA-1099 or Form RRB-1099 from the most recent tax year.Payments will automatically be made within about 3 weeks. If you have filed a 2019 tax return, the payment will go to the bank account on file. If you have not yet filed a 2019 tax return, the check will be deposited to the bank account on your 2018 tax return. For more information about Economic Impact Payments, visit the IRS website on the topic.
Federal Filing Deadlines - EXTENDED TO JULY 15, 2020Income tax filings and payments have been extended until July 15, 2020 regardless of the amount due. This is an automatic extension and no paperwork needs to be filed. Applies to all individual returns, including self-employed individuals, and all entities other than C-Corporations (like trusts and estates).This relief also includes estimated tax payments for tax year 2020 that are due on April 15, 2020. Additional extensions are still available. Individual taxpayers can still request an additional extension beyond July 15, 2020, by filing an Application for Automatic Extension of Time Form 4868. Business taxpayers can request a similar extension by filing an Application for Automatic Extension of Time to File Certain Business Income Tax, Information, and Other Returns Form 7004.Paid Leave and Tax Credits for BusinesesOn Friday, March 20, 2020, the U.S. Treasury Department, the Internal Revenue Service, and the U.S. Department of Labor announced that small and mid-sized employers can take advantage of two new refundable payroll tax credits to fully reimburse them for the cost of Coronavirus related leave provided by the Families First Coronavirus Response Act. This relief includes Paid sick leave for workers for COVID-19 related reasons. Employers receive 100% reimbursement for paid leave pursuant to the Act.Health insurance costs are also included in this credit and there will be no tax liability for employers. Self-employed individuals will also receive credit. The order provides for an immediate dollar-for-dollar tax offset against payroll taxes. More Information is available here Families First Coronavirus Response Act.
California Tax Information
The California Franchise Tax Board has postponed the filing and payment deadlines until July 15, 2020 for individuals and business entities for2019 tax returns2019 tax return payments2020 1st & 2nd quarter estimate payments2020 LCC taxes and fees2020 Non-wage withholding payment
Stanislaus County Property Tax Information
Stanislaus County property taxes are still due by April 10, 2020. Although the office is closed to the public you can pay onlineor mail your payments. Information about important postmark information and online payment is availble on the Stanislaus Countywebsite, Treasure/Tax Collector webpage. http://www.stancounty.com/tr-tax/property-taxes.shtm