As expected, the Internal Revenue Service (“IRS”) has begun to address some of the details left open by the business tax provisions of the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”). This Alert...more
On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) was signed into law. The CARES Act is a $2 trillion economic aid package, which makes numerous changes to the federal tax laws to...more
On March 25, 2020, the Internal Revenue Service (the “IRS”) released the People First Initiative as part of its ongoing effort to provide relief to taxpayers impacted by COVID-19. The People First Initiative grants taxpayers...more
A number of states have extended filing and payment deadlines. The following is a summary of the status of extensions for states within the McCarter & English footprint:
Connecticut-
•The Connecticut Department of Revenue...more