On April 9, 2020, the Internal Revenue Service (IRS) issued Notice 2020-23, which amplifies previous notices providing taxpayer relief due to the coronavirus pandemic. Notice 2020-23 expanded the defined “affected taxpayer” to those performing a time-sensitive action. Relief is provided to filing any form, including Form 5500, Annual Return/Report of Employee Benefit Plan, due ... Read More ›
In addition to an employee retention credit and advance payment of payroll credits for employee paid sick and family leave, the CARES Act also provides for extra time to pay certain payroll taxes.
Employers and self-employed individuals may defer payment of all (in the case of employers) or half (in the case of self-employed individuals) of ... Read More ›
Under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), grants are now available through the Small Business Administration (SBA) to provide an emergency advance of up to $10,000 to small businesses and private non-profits harmed by COVID-19, by applying for an SBA Economic Injury Disaster Loan (EIDL). The advance does not need to ... Read More ›