On March 18, 2020, President Trump signed into law the Families First Coronavirus Response Act (the “Act”), which is one of many pieces of legislation that will address the various impacts of the COVID-19 pandemic.
Just days after issuing guidance deferring the payment of certain tax obligations but maintaining the April 15 tax filing deadline, the IRS has changed course and announced in Notice 2020-18 that it is indeed extending the April 15 tax filing deadline.
The COVID19 reports by all government authorities state that the key to slowing the spread of the virus is social distancing. We are implementing precautionary measures to promote the safety and health of our personnel.
In December 2017, major tax reform that affects both individuals and businesses was enacted. It is commonly referred to as the Tax Cuts and Jobs Act of 2017, or TCJA for short.
