On March 18, 2020, the Families First Coronavirus Response Act (FFCRA) was enacted. FFCRA addresses paid sick and family leave, including tax credits for employers. Legacy Professionals LLP has prepared a summary of the key provisions related to FFCRA: FFCRA Chart
Please contact your Legacy representative if you need assistance or have questions.
Illinois Department of Revenue Bulletin: Changes to Estimated Payment Requirements due to COVID-19 Virus Outbreak
In response to the coronavirus pandemic, Treasury Secretary Steven Mnuchin announced on Tuesday, March 17th, that the Trump Administration is granting an additional 90 days to pay taxes owed, without any interest or penalties. Individuals can defer up to $1 million dollars of tax liability and corporations up to $10 million in tax liability.
The filing ... Read More ›