COVID-19 Demands / Amherst’s Safety & Soundness
Most importantly, we hope you are healthy, home and taking recommended safety precautions.
Amherst is well-prepared to conduct business as usual from various home locations and remains available to talk via email or phone whenever you need us.
Tax Relief / Extensions
On April 10th, Disaster Notice 2020-23 was released by the IRS. Though vague and unlike previous Presidentially Declared Disaster Notices, 2020-23 provides that time-sensitive acts required April 1st or after are extended to July 15th, 2020. The July 15th extension seems to apply to both the 45th and 180th days. Many questions remain unanswered and we continue to monitor the situation with the help of the Federation of Exchange Accommodators. All active clients have received a copy of the Notice and a follow-up phone call. If you have not already received Notice 2020-23 and would like a copy, please email email@example.com.
Safety of Funds
The safety of exchange funds remains a top priority. We are alert to the heightened necessity of monitoring banks during changing financial realities. We maintain relationships with numerous depositories in order to have choices. Amherst remains poised to maintain the safety of client funds in segregated Qualified Trust accounts in sound banks.