On April 30, 2020, the Internal Revenue Service (IRS) issued Notice 2020-32 (the Notice) which concluded that the expenses paid with loans which are forgiven under the Paycheck Protection Program (PPP) are not deductible....more
On April 10, 2020, the Internal Revenue Service (IRS) issued answers to FAQs relating to deferral of the payment of an employer's share of Social Security taxes under the Coronavirus, Aid, Relief, and Economic Security...more
On March 27, 2020 the Coronavirus Aid, Relief and Economic Security Act (CARES) was signed into law. We have summarized below some of the more significant tax provisions in CARES applicable to businesses and individuals....more
On Friday March 20, 2020 the Internal Revenue Service issued IRS Notice 2020-18 regarding federal income tax payments and income tax returns due on April 15, 2020. The guidance supersedes and replaces IRS Notice 2020-17 that...more
On March 18, 2020, the Internal Revenue Service issued Notice 2020-17 in response to the COVID-19 crisis. Here’s what you need to know:
•For certain taxpayers IRS has extended the April 15, 2020 tax payment deadline to...more