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The Internal Revenue Service has launched a portal for taxpayers to track their Economic Impact Payments, which are starting to be deployed today. Use this link to track the status of your payment. As a reminder, many in our community are eligible for this one-time payment of $1,200 per person and $500 per child under 17 years. Some taxpayers won’t have to do anything at all and will have this payment directly deposited into the account that you used to file your 2019 or 2018 tax returns. Others will receive a check in the mail. There are specific instructions included on the IRS website for non-filers on how to receive their payment. If you have specific questions about eligibility for payments, visit the website.
The Treasury Department and the Internal Revenue Service announced on March 21 that the federal income tax filing due date was automatically extended from April 21, 2020, to July 15, 2020. Full details on the federal tax day extension can be found here.
The S.C. Department of Revenue (DOR) has aligned with the IRS and extended the filing and payment due day for Income Taxes due between April 1 - July 15 to July 15, 2020. This includes the April 15 Individual Income Tax due date and estimated payments due on June 15. Similarly for businesses, S.C. DOR announced on March 17 that other state returns and payments due April 1 - June 1 will now be due on June 1, 2020. Penalty and interest won’t be charged if payment is made by June 1. This includes Sales and Use Tax, Admissions Tax, Witholding Tax and other taxes that are filed with and/or paid to the SCDOR. More information on state taxes can be found here.
Sponsorship provides our investors the opportunity for recognition and publicity. For some events, sponsorship will also include tickets to the event, the opportunity to speak to attendees or to distribute promotional items. Check out the Investment and Sponsorship Program and stretch your marketing budget.