In a news release issued Wednesday, March 25, IR-2020-59, the Internal Revenue Service (IRS) announced it will immediately suspend certain tax payments and compliance programs, and the agency pledged generally to not start new audits or private debt collections until… Read more
The Virginia Department of Taxation, in Tax Bulletin 20-4 issued March 19, announced that any income tax payments due during the period from April 1, 2020, to June 1, 2020, can now be submitted at any time on or before… Read more
Amplifying and superseding its prior Notice 2020-17, the IRS issued another notice on Friday afternoon, March 20, postponing the income tax filing deadline to July 15, 2020. IRS Notice 2020-18 delays the tax filing due date for income tax returns… Read more
The Department of Labor issued a release giving details on the payroll tax credits for qualified emergency paid sick leave (EPSL) and emergency Family and Medical Leave Act (FMLA) leave under the Families First Coronavirus Response Act (FFCRA). More guidance will follow. Eligible employers who pay qualifying EPSL or… Read more
Federal Income Taxes Pursuant to the President’s emergency declaration, the Treasury Department and the IRS issued Notice 2020-18. The due date for filing Federal income tax returns and making Federal income tax payments due April 15, 2020, is automatically postponed… Read more
On March 18, 2020, Congress passed and President Trump signed H.R. 6201, known as the Families First Coronavirus Response Act (the Act), to provide support and relief in response to the COVID-19 pandemic. This Alert focuses on tax credits for employers… Read more
The Centers for Medicare & Medicaid Services Issues FAQs on Essential Health Benefit Coverage and the Coronavirus On March 12, 2020, the Centers for Medicare & Medicaid Services (CMS) posted three Frequently Asked Questions (FAQ) on Essential Health Benefits (EHB)… Read more
The Internal Revenue Service has expanded its electronic filing requirements to now cover applications for recognition of tax exempt status. The new policy and procedures are set out in IRS News Release IR-2020-25 and Revenue Procedure 2020-8 (PDF). One of… Read more
Continuing the discussion on the “Setting Every Community Up for Retirement Enhancement” Act (the “SECURE Act”), part of H.R. 1865, this post will elaborate on some of the most important changes made to employer-provided retirement plans. To see how the… Read more
In the last days of December, Congress passed, and the President signed, an end-of-year appropriations bill, H.R. 1865. In addition to funding the government, the bill contained the “Setting Every Community Up for Retirement Enhancement” Act (the “SECURE Act”), which… Read more
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