Corona Virus Tax Updates
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News Releases & Statements:
• March 31, 2020: Employee Retention Credit available for many businesses financially impacted by COVID-19
• March 30, 2020: Economic impact payments: What you need to know
• March 25, 2020: IRS unveils new People First Initiative; COVID-19 effort temporarily adjusts, suspends key compliance program
• March 24, 2020: IRS Operations During COVID-19: Mission-critical functions continue
• March 21, 2020: Tax Day now July 15 – Treasury, IRS extend filing deadline and federal tax payments regardless of amount owed
• March 20, 2020: Treasury, IRS and Labor announce plan to implement Coronavirus-related paid leave for workers and tax credits for small and midsize businesses to swiftly recover the cost of providing Coronavirus-related leave
• March 20, 2020: The IRS has temporarily closed all Taxpayer Assistance Centers and discontinued face-to-face service throughout the country
• March 18, 2020: Treasury News Release – Treasury and IRS Issue Guidance on Deferring Tax Payments Due to COVID-19 Outbreak
• March 11, 2020: High-deductible health plans can cover coronavirus costs
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Guidance:
• Notice 2020-17 (PDF), Relief for Taxpayers Affected by Ongoing Coronavirus Disease 2019 Pandemic
• Notice 2020-15 (PDF), High deductible health plans and expenses related to COVID-19
• Notice 2020-57 (PDF), Refundable Payroll Tax Credits
• Filing, Payment & Actions Deadlines for 2019 Tax Returns
• Families First Coronavirus Response Act