Generally, more states have announced income tax filing and payment extension deadline dates ‒ although not all match the federal deadline dates.
By Thomas J. DeMayo, Principal As healthcare providers and medical practice groups are forced to transition to virtual continuity of care […]
While the pandemic has slowed economic activity for the near term, there are ways you can improve your organization’s financial position and potentially access loan capital.
National Emergency Declaration: Permits Employers to Provide Tax-Free Financial Assistance to Employees
The President declared a national emergency on March 13, 2020 and invoked the Robert T. Stafford Disaster Relief and Emergency Assistance Act (Declaration) in response to the COVID-19 pandemic.
In an effort to provide relief to taxpayers, the Treasury Department issued IRS Notice 2020-17 on March 19, 2020.
The COVID-19 pandemic has resulted in substantial volatility in the global economy.
COVID-19 may not be going away soon, but state income tax deadlines, including the upcoming April 15 deadline, need to be addressed.
After several days of speculating, Treasury Secretary Steven Mnuchin announced on March 17, 2020 that the IRS will postpone the April 15th tax payment deadline for millions of U.S. taxpayers and, thus, waive interest and penalty charges for 90 days past this date for individual taxpayers who owe up to $1 million in tax and for corporations who may owe up to $10 million.
Businesses are now formulating and re-formulating plans to deal with the COVID-19 pandemic.