BIRMINGHAM, Ala. ( WIAT ) — “If you’re making a federal payment by tomorrow for your estimated tax payments, you can postpone it until May 1,” said Barry Dreayer, a certified public accountant with Bruce Downs CPA in Homewood.
A decision by the IRS to postpone the deadline for filing federal tax returns for those who live in a number of states, including Alabama, in the wake of Hurricane Helene means small business owners can also wait three-and-a-half months before filing estimated taxes due to the IRS.
CBS 42 News spoke with a small business owner in Homewood who wishes he had been aware of the changes. Dr. Corey Hartman, the founder and medical director of Skin Wellness Dermatology, did not realize he didn’t have to pay his federal estimated taxes for another three-and-a-half months…