Gross Mendelsohn Remains Open, Here to Help
March 23, 2020
As you might have heard in Governor Hogan’s press conference today, non-essential businesses in Maryland are to close their physical locations by 5pm on March 23. Accounting firms, however, are deemed essential by the state of Maryland.
Similarly, in Virginia, Governor Northam announced today that many non-essential businesses must close by midnight on March 24. This document includes information on the types of businesses Virginia deems "essential."
The health and safety of our staff, their families, our clients and the entire community is our #1 concern. We will continue to do our part to help prevent the spread of COVID-19.
We’re here to help business owners and taxpayers handle the many financial questions and challenges they are experiencing as a result of this crisis.
As I mentioned in my March 13 statement, we put our contingency plan into action on March 16. The majority of our staff has been working remotely and seamlessly via secure technology while a few staff members remain in the office to receive mail and packages.
We continue to work toward completing client engagements with the same level of timeliness and thoroughness that you are accustomed to.
In-person client meetings are suspended for now. However, our firm has robust video conference tools that allow us to stay in touch, face-to-face, with clients and employees. Your Gross Mendelsohn team may use those tools to reach out to you when a face-to-face meeting is warranted.
If members of our staff are scheduled to be onsite at your office in the near future, someone from the firm will be in touch with you very soon.
Many employees have been working remotely since March 16. I’m proud of how they’ve handled this abrupt transition. They are juggling their normal workloads, family obligations and, like all of us, a situation that seems to change by the hour. I know they will continue to do their best and give 100% to all that is on their plates.
How You Can Reach Us
The ways you can reach us have not changed. You can continue to call (800.899.4623) and email us as you normally do.
If you don’t have your Gross Mendelsohn’s contact information handy, no worries. Contact us here and we’ll point you in the right direction.
Resources for Clients
We continue to compile resources and information for businesses and individuals in light of the COVID-19 pandemic. Visit this page for frequent updates on things like tax deadline extensions, taxpayer relief, and advice for business owners amidst this crisis.
This remains a challenging time for all of us. I encourage you to talk with our team about anything that’s on your mind. We’re in this together.
Thank you, as always, for the continued trust you place in our firm, and be safe.
Tax Deadline for Individual Filings and Payments Extended to July 15
March 20, 2020
Earlier this week, Treasury Secretary Steve Mnuchin delayed the deadline for individual tax payments by 90 days, moving the deadline to July 15 from April 15, when individual tax returns are normally due.
Today Secretary Mnuchin took to Twitter to announce that the deadline for individual income tax filings has been extended to July 15, 2020.
Today’s announcement means that both payments (if money is owed) and filings are due on July 15.
This is a bright spot of news for taxpayers amidst daily coronavirus fears and uncertainty. Now, both business and individual taxpayers get additional time to file and make tax payments without incurring interest or penalties.
Tax Payments Extended to July 15
March 18, 2020
Yesterday, Treasury Secretary Steve Mnuchin announced a series of tax relief measures to assist taxpayers and tax preparers during the COVID-19 pandemic. These relief measures include an extra 90 days to pay the IRS if individuals or small businesses owe income tax (except for taxpayers owing more than $1,000,000 for individuals and $10,000,000 for businesses) for 2019. Tax payments will now be due on July 15, 2020, with no additional interest or penalties. Likewise in Maryland, no interest or penalty for late payments will be imposed if 2019 tax payments are made by July 15, 2020. Virginia has not released any additional information at this time.
This is in addition to Maryland extending the filing and paying of the following taxes to June 1, 2020:
- Sales and use tax
- Withholding tax
- Admissions and amusement tax
- Alcohol, tobacco and motor fuel excise taxes
- Tire recycling fee
- Bay restoration fee returns
The Maryland extension is designed to help businesses with cash flow during this time.
Our goal through these difficult times is to ensure the health and safety of our staff and to complete client engagements with the same level of timeliness and thoroughness that our clients are accustomed to.
In order to accomplish these goals, our plan is work on the premise that the filing deadline is July 15, 2020. We will be prioritizing clients who are expected to receive tax refunds or clients that still are faced with the April 15 payment.
We appreciate the trust you place in our firm and our team, and for your patience in the next few months as we navigate this evolving situation.
Our Initial Statement on COVID-19
March 13, 2020
This is indeed a challenging time for families and businesses. First and foremost, we are committed to multiple priorities at this time:
- The health and wellbeing of our staff, their families, and our clients
- Completion of our clients’ tax returns, audits and other engagements
While these are commitments that we always uphold as part of our core values as a firm, we are, like so many Maryland and Virginia businesses, putting our contingency plan into action given the evolving COVID-19 situation.
We are taking the following actions, effective Monday, March 16:
- We have in place the ability for most of our staff to work remotely. We have always allowed our staff to work remotely and are now, of course, allowing even more liberty to work remotely.
- Our team will not be required to visit client sites during the remainder of this emergency.
All members of our professional staff have the ability to work remotely in a secure technology environment, thanks to measures our IT team put into place. Our firm has robust technology tools in place, including measures to transmit sensitive information securely, video conferencing, instant messaging and screen sharing. The ways you can reach us will not change. You can continue to call and email us as you normally do.
One-on-one, in-person communication between our professionals and clients has always been an important part of the client experience at Gross Mendelsohn. We will assess on a case-by-case basis whether meeting in person, by video conference or by phone is most appropriate.
The bottom line: we are not “shutting down.” You have our commitment that as always, we are working toward completing client engagements with the same level of timeliness and thoroughness that our clients are accustomed to.
We appreciate the trust you place in our firm and our team.