IMPORTANT! COVID-19 Notices

Federal Tax Payment and Filing Deadline Extended to July 15, 2020

The Treasury Department and the Internal Revenue Service are providing special tax filing and payment relief to individuals and businesses in response to the COVID-19 Outbreak. The filing deadline for tax returns has been extended from April 15 to July 15, 2020. The IRS urges taxpayers who are owed a refund to file as quickly as possible. For those who can’t file by the July 15, 2020 deadline, the IRS reminds individual taxpayers that everyone is eligible to request an extension to file their return.

This payment relief includes:

The 2019 income tax filing and payment deadlines for all taxpayers who file and pay their Federal income taxes on April 15, 2020, are automatically extended until July 15, 2020. This relief applies to all individual returns, trusts, and corporations. This relief is automatic, taxpayers do not need to file any additional forms or call the IRS to qualify.

This relief also includes estimated tax payments for tax year 2020 that are due on April 15, 2020.

Penalties and interest will begin to accrue on any remaining unpaid balances as of July 16, 2020. You will automatically avoid interest and penalties on the taxes paid by July 15.

Individual taxpayers who need additional time to file beyond the July 15 deadline can request a filing extension by filing Form 4868 through their tax professional, tax software or using the Free File link on IRS.gov. Businesses who need additional time must file Form 7004.

This relief only applies to federal income tax (including tax on self-employment income) payments otherwise due April 15, 2020, not state tax payments or deposits or payments of any other type of federal tax.

State Tax Returns:

The state of Pennsylvania has also extended the filing deadline to July 15th, 2020.  If you are required to file tax returns in any other state, we suggest your confirm that they have also extended their filing deadline.

To our business clients:

Due to Covid-19 and mandatory shutdowns there have been numerous inquiries regarding federal and state funded business loans.

Two loans that we are aware of are:

SBA Loan – up to $2 million dollars at 3.75% interest for 30 years with a 12-month deferment, we are uncertain if the interest will be accrued.    That application can be accessed at https://disasterloan.sba.gov/apply-for-disaster-loan/index.html.  This loan is through the federal government.  However, if you have EVER defaulted on a federal loan, ie student loan, you cannot apply.  Assistance in completing these forms can be obtained at PA Small Business Development Center https://pasbdc.ecenterdirect.com/network

PLEASE BE SURE THAT ALL THE INFORMATION YOU PROVIDE IS TRUE AND ACCURATE OR YOUR RETURN WILL BE REJECTED AND YOU WILL NEED TO RESUBMIT.

PIDA Loan – up to $100k at zero percent interest for 3 years with a 12-month deferment with a balloon payment in the third year.  This application can be accessed at https://dced.pa.gov/download/pida-guidelines-2015f-pdf/?wpdmdl=58106.  The application is on the very last page of the booklet.  This is limited funding with a total of $60 million dollars.  On a first come first serve basis by county that the business is located.

We recommend that you go on line and complete these applications as soon as possible to be eligible for these loans.

Welcome!

This website exists to provide clients and potential clients with information concerning our firm and our unique, low-pressure approach to personal and professional services. We have an excellent client-retention rate, and we are extremely proud of the high-quality services that our firm provides.

Please, feel free to browse our website to see the services we offer as well as the many helpful resources we provide. When you are ready to learn more about what we can do for you, we encourage you to contact us.

Due to IRS regulations, we will now require signed forms prior to us submitting your taxes electronically. Signatures are required by all parties filing.

IRS Follow-Up Release – Uncovering New Details on Scam Tactics

Souder Scenna Accounting Limerick

Our Services

Software as a service (SaaS), cloud computing, and other technological innovations are adding more dimensions to technology decisions.

If your business does not currently have accounting staff or if your business is outgrowing its current bookkeeping system, we can provide comprehensive bookkeeping and write-up services to ensure the smooth operation of the financial side of your business.

As a true business partner, we are available to help you deal with any business problem or opportunity.

The business entity—LLP, LLC, sole proprietorship, partnership, corporation, etc.— that you select for your business has enormous financial and tax implications.

Financial analysis provides the numbers to support, reject or contemplate a course of action.

Financial statements are an important tool for management decision making. Financial statements also represent your business to lenders, partners, potential buyers and other interested parties.

If you or your business face an IRS audit, we can bring to bear years of experience in dealing with tax matters and IRS audit procedures to ensure that you are properly represented when dealing with the IRS and other tax authorities.

Our Management Advisory Services focus on improving the efficiency and effectiveness of your business and its operations.

We can help you understand and manage your sales tax obligations and prepare sales tax returns in an efficient and timely manner.We can help you understand and manage your sales tax obligations and prepare sales tax returns in an efficient and timely manner.

Effective tax preparation and planning can help you to minimize your future tax liability.
Souder Scenna Enrolled Agent