Paycheck Protection Program COVID-19 Relief Window Is Open for Business as of April 3
Small and mid-size businesses needing economic relief to help tide them over during the novel coronavirus (“COVID-19”) pandemic may start applying for federally-backed loans on Friday, April 3, 2020. The loans are designed to shoulder employment costs over the next two months and subject to… Read More
IRS Explains Coronavirus (COVID-19) Business Payroll Tax Credits
Implementing the business tax relief provisions of the Families First Coronavirus Response Act, signed March 18, 2020 by President Donald Trump, the Internal Revenue Service (“IRS”) announced in a Release that while further guidance would be forthcoming, small, and midsize employers as well as self-employed… Read More
IRS Responds to Coronavirus (COVID-19) by Moving Tax Day to July 15
Superseding earlier guidance to taxpayers, the Internal Revenue Service (IRS) announced in a Notice that anyone facing income tax filing and payment deadlines of April 15 – popularly known as “Tax Day” – may now defer filing their income tax returns and paying their income… Read More
Citing Coronavirus (COVID-19), Treasury Defers April 15 Tax Day
Citing President Donald Trump’s declaration of a national emergency due to the novel coronavirus (COVID-19) pandemic, the Treasury Department in a Notice officially extended by 90 days the April 15 deadline many taxpayers have to pay federal income tax. The March 18, 2020 notice applies… Read More
Coronavirus (COVID-19) Spurs Tax Payment Delay for Millions of Taxpayers
Treasury Secretary Steven Mnuchin announced Tuesday, March 17, 2020, that due to the novel coronavirus (COVID-19) pandemic, his department would be providing a 90-day extension to the April 15 deadline for the payment of many individuals’ and some businesses’ income taxes. Speaking at a news… Read More
Coronavirus (COVID-19) Could Cause Extension in 2019 Tax-Filing Deadline
Treasury Secretary Steven Mnuchin announced that he supports extending the 2019 tax-filing deadline beyond April 15 because of coronavirus-induced economic disruptions. Testifying on Capitol Hill, he told the House Appropriations Committee on March 11 that his recommendation, to be delivered to President Donald Trump, would… Read More