On Friday, March 20th, the U.S. Treasury Department, Internal Revenue Service and the U.S. Department of Labor distributed a news release that contains important information on the new Families First Coronavirus Response Act. Businesses with less than 500 employees can start to take their refundable payroll tax credits immediately by retaining any funds they would … Continued
The Treasury Department and Internal Revenue Service announced on March 20th that the federal income tax filing due date is automatically extended from April 15, 2020, to July 15, 2020. Taxpayers do not need to file any additional forms or call the IRS to qualify for this automatic federal tax filing and payment relief. Please … Continued
The Trump administration is asking Congress for roughly $1 trillion in new economic relief as lawmakers begin to work on the next phase of federal legislation. This proposed relief package is intended to help small businesses, provide loan guarantees for industries like airlines and hotels, and it includes some financial assistance for workers. Late in … Continued
