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KNOCK YOURSELF OUT - RESUSCITATING TAXPAYERS WITH BUYER'S REMORSE!
The September Monthly Minute reports on the IRS’ new amendment extension deadline with respect to coronavirus-related distributions and qualified disaster distributions, a recent $131.8 million settlement stemming from...more
For the second year in a row, the due date for the filing of income tax returns and the payment of taxes was extended. For most taxpayers, the extended deadline brought glee. For the tax return preparation community, however,...more
The U.S. Department of the Treasury and Internal Revenue Service announced on March 17, 2021, that the federal income tax filing due date for individuals will be automatically extended from April 15 to May 17, 2021. This...more
On March 17, 2021, the Treasury Department and the Internal Revenue Service announced that the federal income tax filing due date deadline has been extended from April 15, 2021 to May 17, 2021. At the same time, the IRS also...more
New York State has extended the due date for personal income tax returns and related payments originally due on April 15, 2021 to May 17, 2021. This follows the federal tax deadline which was also extended from April 15,...more
Five-Year Extension of New Markets Tax Credit Program As we have all seen, the COVID-19 pandemic has created economic suffering for each and every one of our communities. However, for those severely distressed, low-income...more
Alabama - The Alabama Commissioner of Revenue has issued a series of orders. On March 18, 2020, the commissioner ordered that late payment penalties are waived for small retail businesses whose monthly retail sales during...more
On Monday, November 30, 2020, Governor Gavin Newsom announced that California will provide temporary tax relief for eligible businesses impacted by restrictions imposed to control the COVID-19 pandemic. The announcement...more
Alabama - The Alabama Commissioner of Revenue has issued a series of orders. On March 18, 2020, the commissioner ordered that late payment penalties are waived for small retail businesses whose monthly retail sales...more
Alabama - Alabama Commissioner of Revenue has issued a series of orders. On March 18, 2020, the commissioner ordered that late payment penalties are waived for small retail businesses whose monthly retail sales during...more
Because of Covid-19, the IRS extended most federal tax filing and payment deadlines otherwise due from April 1, 2020 to July 14, 2020 until July 15, 2020....more
The IRS has again extended the due dates for certain returns and payments because of the ongoing coronavirus (COVID-19) pandemic. Notice 2020-35, which the IRS issued on May 28, 2020, postpones the due date for certain...more
States and localities across the country are continuing to respond as quickly and effectively as possible to the coronavirus (COVID-19) outbreak. These responses include guidance for taxpayers on numerous topics, such as...more
Maine Governor Janet Mills recently announced that the second quarter estimated tax payment deadline has been extended to July 15, 2020. ...more
We’ve Been Better- On March 1, 2020, New York had its first confirmed case of the coronavirus. On March 6, pursuant to the Coronavirus Preparedness and Response Supplemental Appropriations Act, over $8.3 billion in emergency...more
On April 20, 2020, Gov. Andrew Cuomo signed Executive Order No. 202.22. It’s the latest in a series of Executive Orders under the Governor’s statewide disaster emergency declaration in response to the COVID-19 pandemic. ...more
Notice 2020-23 generally provides taxpayers until July 15, 2020 to perform certain time-sensitive actions in response to the COVID-19 pandemic. Notice 2020-23, released on April 9, 2020, provides taxpayers who are...more
Update April 20: This blog has been updated to reflect additional OLCC guidance. In the wake of the COVID-19 pandemic, state and federal agencies are stepping up to provide tax and reporting relief for wineries, breweries,...more
Update April 20: This blog has been updated to reflect updated guidance about estate planning considerations. Over the past several weeks, federal and state agencies have taken extraordinary steps to address the impact of...more