People who receive an Economic Impact Payment this year should keep Notice 1444, Your Economic Impact Payment, with their tax records. This notice provides information about the amount of their payment, how the payment was made and how to report any payment that...
The Paycheck Protection Program (“PPP”) authorizes up to $349 billion in forgivable loans to small businesses to pay their employees during the COVID-19 crisis. All loan terms will be the same for everyone. The loan amounts will be forgiven as long as: The loan...
We hope that you are keeping yourself, your loved ones, and your community safe from COVID-19 (commonly referred to as the Coronavirus). Along with those paramount health concerns, you may be wondering about some of the recent tax changes meant to help everyone coping...
According to a tweet by Treasury Secretary Steven Mnuchin, the U.S. tax filing deadline has been pushed back from April 15 to July 15 to allow taxpayers and businesses additional time to file and make payments without interest. The IRS issued Notice 2020-17 to confirm...
The IRS issued Notice 2020-17 to confirm the relief provisions noted by Treasury Secretary Steven Mnuchin at a press conference on March 17, 2020 that individuals can defer income tax payments up to $1 million of their 2019 tax due. This relief extends the payment due...
IR-2020-11, January 15, 2020 WASHINGTON — The Internal Revenue Service and Department of the Treasury issued Revenue Procedure 2020-11 (PDF) that establishes a safe harbor extending relief to additional taxpayers who took out federal or private student loans to...
