March 25, 2020
After haggling for days over the final details, Senate Democrats and the White House agreed Tuesday to a nearly $2 trillion stimulus package to combat the economic fallout of the coronavirus outbreak, including direct payments to most Americans and a half-trillion-dollar fund to shore up struggling companies. The stimulus bill — by far the largest...…
March 21, 2020
On Saturday morning, the Treasury Department and Internal Revenue Service followed up with an official press release that the federal income tax filing due date is automatically extended from April 15, 2020, to July 15, 2020.
March 20, 2020
As the coronavirus disease (COVID-19) outbreak continues to impact people around the world, many professionals have questions and concerns about how to navigate these uncertain times as a tax and accounting practice.
March 20, 2020
The Internal Revenue Service has announced that it is closing its in-person assistance offices as part of the government's efforts to prevent the spread of coronavirus.
March 20, 2020
The Treasury Department and IRS have announced that the income tax filing deadline has now been extended to July 15, 2020. Earlier this week, Secretary Mnuchin announced the extension of the payment deadline, but did not change the filing deadline
March 18, 2020
The American Institute of CPAs’ (AICPA) president and CEO, Barry Melancon, CPA, made the following statement in response to the Treasury’s recent statement on tax payment relief:
March 17, 2020
Facing pressure from lawmakers and the tax community, on Tuesday, March 17, Treasury Secretary Mnuchin announced that the agency is giving taxpayers an additional 90 days to pay for those owing up to $1 million in taxes ...
March 17, 2020
Taxpayers and businesses will have until July 15, 2020 to pay their taxes this year without penalty. The change was announced on Tuesday afternoon, by Treasury Secretary Steven Mnuchin ...
March 17, 2020
Taxpayers and businesses will have until July 15, 2020 to pay their taxes this year, but the filing deadline is still April 15, for now. The change was announced on Tuesday afternoon, by Treasury Secretary Steven Mnuchin ...
March 16, 2020
As America and the world continue to combat the coronavirus, and most major sporting, business and social events have been postponed or canceled, the IRS and Treasury are expected to announce on Monday (March 16) the new tax deadline.
March 16, 2020
As America and the world continue to combat the Coronavirus, and most major sporting, business and social events have been postponed or canceled, the IRS and Treasury still have not updated tax professionals and taxpayers about a possible change to the...
March 13, 2020
President Donald Trump has instructed the Treasury Department and IRS to extend the April 15, 2020 deadline for filing federal income tax returns for those affected by Coronavirus. The change is only for this year.