ARP Tax Changes Include Credit Extensions/Expansions, Tax Relief for EIDL and Grant Recipients, and Changes to Worldwide Interest Allocation Rules -
Among many other provisions, the American Rescue Plan (ARP), the $1.9...more
Included as part of the Stimulus Bill (the Bill) are the COVID-Related Tax Relief Act of 2020 and the Taxpayer Certainty and Disaster Tax Relief Act of 2020. For a discussion of other aspects of the Bill, see our...more
The IRS released a final version of Form 941 (the employment tax return to be used by employers for the second quarter for 2020) and a revised set of accompanying Instructions. The Form and particularly the Instructions...more
6/30/2020
/ CARES Act ,
Coronavirus/COVID-19 ,
Form 941 ,
IRS ,
Paycheck Protection Program (PPP) ,
Payroll Taxes ,
Relief Measures ,
SBA ,
Small Business Loans ,
Tax Deferral ,
Tax Planning
The Internal Revenue Service (IRS) issued Notice 2020-46 providing guidance to employers whose employees forgo sick, vacation, or personal leave to aid victims of COVID-19....more
The Pennsylvania Department of Revenue (the Department) announced that it will further suspend the requirement for businesses that collect and remit Pennsylvania sales tax to make payments of Accelerated Sales Tax (AST)...more
As we noted in our alerts on March 19 and March 20, Treasury extended certain income tax filing and payment dates to July 15, 2020. On April 9, in Notice 2020-23, many more deadlines have been extended. Payment obligations...more
As we discussed, the Pennsylvania Department of Revenue (DOR) announced that Pennsylvania personal income tax (PIT) deadlines would conform to federal deadlines, and that PIT returns and payments due April 15, 2020 were...more
The Coronavirus Aid, Relief, and Economic Security Act (H.R. 748; the CARES Act) includes several tax-related provisions, including tax rebates, modifications to the Tax Cuts and Jobs Act (TCJA), hiring and paid leave...more
The IRS released FAQs addressing the Treasury’s decision to move Tax Day (for both filing and payment) from April 15 to July 15, 2020....more
The Minnesota Department of Revenue announced on March 23, 2020 that, in line with the extended federal deadlines, Minnesotans now have until July 15, 2020 to file their Minnesota individual income tax returns and to make tax...more
The Arizona Department of Revenue announced that it will postpone the deadline for filing and paying state income taxes from April 15, 2020 until July 15, 2020, consistent with the extension of federal filing and payment...more
The D.C. Office of Tax and Revenue announced on March 23, 2020 that, in step with the federal deadline extensions announced by the IRS on March 20, 2020, the deadline for taxpayers to file and pay their 2019 individual,...more
Pursuant to Utah state statute, the individual income tax return filing deadline will continue to mirror the Federal deadline. According to Utah State Tax Commission (STC) Chair John Valentine, Utah thus automatically...more
Colorado Governor Jared Polis signed an executive order on March 20 extending the April 15, 2020 tax payment deadlines for all individuals and businesses to July 15, 2020....more
The Georgia Department of Revenue (DOR) extended tax filing and payment deadlines for Georgia income taxes due on April 15, 2020, which makes Georgia another state to conform with the federal tax filing and payment...more
Virginia Governor Ralph Northam announced that “while filing deadlines remain the same, the due date for payment of individual and corporate income tax will now be June 1, 2020.” However, the Virginia extension to pay, while...more
On March 18, 2020, the California Franchise Tax Board (FTB) further postponed its state tax filing and payment deadlines to July 15 for all individuals and business entities for 2019 tax returns and payments, 2020 first and...more
Following Treasury Secretary Steve Mnuchin’s Twitter announcement that Tax Day would be moved from April 15 to July 15, 2020, in response to the ongoing coronavirus crisis, the IRS released Notice 2020-18 (available here)...more
3/23/2020
/ Coronavirus/COVID-19 ,
Corporate Taxes ,
Federal Taxes ,
Filing Deadlines ,
Guidance Update ,
Income Taxes ,
IRS ,
Relief Measures ,
Tax Extensions ,
Tax Returns ,
Time Extensions ,
U.S. Treasury