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Executive Memo Allows Deferral Of Payroll Tax In Light Of COVID-19

Employers should weigh carefully whether to participate in the voluntary deferring of the employee portion of Social Security taxes pursuant to the executive memorandum issued by President Trump on August 8, 2020. The...more

IRS Clarifies Disallowance Of PPP Loan Covered Expenses To The Extent Of Loan Forgiveness

Paycheck Protection Program (PPP) Loans authorized under Section 1102 of the CARES Act are intended to provide businesses with additional liquidity to cover (1) payroll costs, (2) certain employee benefits relating to...more

Last Minute IRS And Tax Court Deadline Update

The IRS has issued a new notice answering outstanding questions about previous filing and payment deadline extension notices and adding to the list of forms and payments covered by the extension until July 15, 2020. Notice...more

2020 Gift Tax Deadlines Extended Due To COVID-19 Pandemic

IRS Notice 2020-18 postponed the Federal income tax filing and payment due date from April 15, 2020 to July 15, 2020, but did not affect due dates in connection with the Federal gift tax. On March 27, 2020, the IRS...more

Important Limits On IRS Tax Deadline Extension

Although IRS Notice 2020-18 postponed this year's tax filing deadline to July 15, it is important to note that it extends only income tax and self-employment filings and payments. It does not extend the time to file or pay...more

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