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
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
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
The recently passed CARES Act includes various provisions which may afford financial relief to individuals with respect to their IRAs and retirement plan accumulations. The specifics of these provisions and how they will be...more
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
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