After a series of statement, tweets, and Notices, the IRS is granting a reprieve that applies to all taxpayers who have income tax returns due on April 15, 2020, which will now be due on July 15, 2020. This includes...more
3/24/2020
/ Coronavirus/COVID-19 ,
Corporate Taxes ,
Filing Deadlines ,
Income Taxes ,
IRS ,
Relief Measures ,
State of Emergency ,
State Taxes ,
Tax Returns ,
Time Extensions ,
U.S. Treasury
Substantial changes and new concepts were worked into the Act for business income, both of corporations and individuals.
Corporate Tax Rate Reduced: The maximum corporate tax rate is 21%, down from 35%.
...more
The Internal Revenue Service and the Treasury Department released an updated Priority Guidance Plan outlining the regulatory projects that have become necessary in light of the passage of the 2017 Tax Cuts and Jobs Act (the...more