A national emergency was declared on March 13, 2020, as the result of the COVID-19 pandemic. As a result of that declaration, the Federal Emergency Management Agency (FEMA) issued emergency declarations for every state,...more
The U.S. Department of Labor and the U.S. Department of the Treasury , in consultation with the U.S. Department of Health and Human Services, issued new final rules that, effective March 1, 2020, extend various timeframes...more
Recognizing the challenges facing employee benefit plan sponsors, administrators, and participants, on April 28, 2020, the Departments of Treasury (“DOT”), Labor (“DOL”) and Health and Human Services (“HHS”) extended certain...more
On April 9, 2020, the IRS issued Notice 2020-23 (the “Notice”) to provide additional extensions of certain tax filing deadlines, which Notice supplements Notice 2020-18 and Notice 2020-20. The IRS previously issued Notice...more
On April 9, 2020, the Secretary of the U.S. Department of Treasury (the “Secretary”) and the Internal Revenue Service (the “IRS”) issued Notice 2020-23 (the “Notice”), which extends the deadline for performance of a long list...more
The IRS has issued FAQs regarding the tax credits for the sick and family leave and employee retention tax credits which provide guidance on eligibility and instructions for claiming the credits. The guidance sets forth the...more
On March 31, 2020, the IRS issued guidance on the Employee Retention Credits under the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”). The Employee Retention Credits are fully refundable tax credits...more
The Treasury Department and the Internal Revenue Service offered relief from federal tax return filing and tax payment deadlines to certain taxpayers under Notices 2020-17 and -18. Such federal extension of time to file l...more
March 24, 2020 As COVID-19 has been disrupting our personal and professional lives, the April 15 tax deadline continued to loom on the horizon. In welcome news for many, on Friday, Treasury Secretary Steven Mnuchin announced,...more
In an effort to provide relief to individuals affected by the COVID-19 emergency, the Secretary of the Treasury extended the due date for filing Federal income tax returns and making Federal income tax payments from April 15,...more
As part of the federal government’s continued efforts to minimize the economic disruptions caused by the coronavirus pandemic, U.S. Treasury Secretary Steven Mnuchin on March 20, 2020, announced that the April 15th deadline...more
Secretary of the Treasury Steven Mnuchin tweeted on Friday that “Tax Day [is moving] from April 15 to July 15. All taxpayers and businesses will have this additional time to file and make payments without interest or...more
Further to our previous update on the extension of the April 15, 2020 Federal income tax payment deadline to July 15, 2020, today the Secretary of the Treasury announced that the April 15, 2020 deadline for Federal income tax...more
Updated as of March 23, 2020 at 11:30 a.m. On Friday, March 20, 2020, the IRS released updated guidance, confirming Secretary Mnuchin’s statements from earlier in the day that the April 15, 2020, federal income tax filing...more
The Treasury Department and Internal Revenue Service have extended the federal income tax filing due from April 15, 2020, to July 15, 2020. The payment deadline was also extended to July 15, 2020...more
On the evening of March 18, 2020, President Trump signed into law the multiple-subject Families First Coronavirus Response Act (FFCRA). The focus of this alert is to summarize the two portions of the FFCRA which provide...more
The federal government and numerous states have announced changes in tax filing and payment dates in response to the COVID-19 pandemic. Tax credits have been made available for new family leave and sick leave payments...more
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
Federal Income Taxes Pursuant to the President’s emergency declaration, the Treasury Department and the IRS issued Notice 2020-18. The due date for filing Federal income tax returns and making Federal income tax payments due...more
The April 15 deadline for filing tax returns will be postponed until July 15, after comments from Treasury Secretary Steven Mnuchin and Notice 2020-18 posted March 20 by the IRS. This news follows Secretary Mnuchin’s...more
On March 13, 2020, the President of the United States issued an emergency declaration granting the Internal Revenue Service (“IRS”) the authority to provide relief from tax deadlines to Americans who have been adversely...more
We are updating the information we provided yesterday regarding 2020 federal income taxes. Today, March 20, 2020, Treasury Secretary Steven Mnuchin announced that the IRS would extend by 90 days the filing deadline for...more
As an update to our earlier blog posted, U.S. Treasury Secretary Steven Mnuchin announced this morning that the U.S.is extending the April 15th tax-filing deadline to July 15th. This extension is in addition to the earlier...more
Updated on 3/26/20 - In order to combat the adverse economic effects in which many individuals and businesses are experiencing as a result of the COVID-19 outbreak, the federal government and the State of California will...more
The Federal government has recently taken a series of actions concerning the novel coronavirus disease (COVID-19). We discuss the tax implications of these decisions...more