In a recent announcement (Notice 2020-46), the Internal Revenue Service (“IRS”) provided guidance to employers for how to exchange employee elections to forego vacation, sick, or personal leave for cash payments that the...more
On April 30, 2020, the Internal Revenue Service (“IRS”) published Notice 2020-32, which provides that no deduction is allowed for federal income tax purposes for an expense that is otherwise deductible if the payment of the...more
The Internal Revenue Service (“IRS”) has broadened the scope of taxpayers who ordinarily would have been required to meet a filing or payment federal tax deadline between April 1, 2020 and July 15, 2020. Those taxpayers now...more