Advocacy & Tax Relief

Topics

April 1, 2020

IRS waives failure-to-deposit penalties during pandemic

The IRS is permitting eligible employers who pay qualifying wages to retain an amount of the payroll taxes equal to the amount of qualifying wages that they paid, rather than deposit them with the IRS.

March 31, 2020

Recovery rebate payments to be issued within 3 weeks

The IRS has issued guidance on these payments, which it calls “economic impact payments,” and says they generally will be direct-deposited to most qualifying taxpayers’ bank accounts in the next three weeks without taxpayers having to do anything.

March 27, 2020

Gift and GST returns added to postponed tax and filing deadlines

The IRS postponed the payment and return filing requirements for gift and generation-skipping transfer taxes due April 15 to July 15, matching prior postponements granted to federal income taxes and returns.

March 27, 2020

Coronavirus paid sick leave and family leave guidance issued

The IRS issues rules to implement paid sick and child care leave credits enacted in response to the pandemic.

March 27, 2020

CARES Act tax provisions aim to stabilize pandemic-ravaged economy

The $2 trillion stimulus bill, which passed the Senate by a 96-0 vote late on Wednesday, contains many tax provisions. Here’s a look at the tax items, which range from credits to temporary changes to retirement plan rules.

March 26, 2020

AICPA requests broader relief for taxpayers

In a letter to Treasury and the IRS the AICPA requested that recent filing and payment relief related to the COVID-19 pandemic be expanded because the current relief does not cover all tax filings and payments affected by the pandemic.

March 24, 2020

IRS posts FAQs about coronavirus-related filing and payment extensions

The IRS posted 24 questions and answers to clarify the notice delaying certain tax filing and payment deadlines until July 15.

March 23, 2020

Practitioners seek further clarity on tax filing, payment delay

Practitioners welcomed the IRS’s deferral of income tax returns and payments due April 15 for another 90 days but have many questions about related issues.

March 21, 2020

IRS provides guidance for April 15 filing delay

The IRS announced the postponement of the April 15 federal income tax filing deadline until July 15. Friday’s notice expands on earlier guidance that had only postponed tax payments but not the filing deadline.

March 20, 2020

Tax filing deadline moving to July 15, Treasury secretary announces

Treasury Secretary Steven Mnuchin announced that taxpayers will have until July 15 to file their tax returns, a change from the guidance announced by the IRS earlier.

March 19, 2020

Coronavirus relief bill contains tax credits for employers

Here’s a look at the payroll tax credit provisions for employers in the coronavirus relief bill President Donald Trump signed on Wednesday.

March 18, 2020

AICPA expresses strong concern over lack of filing relief in coronavirus tax notice

The IRS delayed any tax payments due April 15 to July 15 without interest or penalties accruing. The relief does not extend any tax return filing deadlines or apply to any other type of tax.

March 17, 2020