June 30, 2020
The Treasury Department and IRS recently announced the tax filing and payment deadline of July 15 will not be postponed, but individual taxpayers unable to meet the due date can request an automatic extension of time to file until Oct. 15.
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June 23, 2020
The IRS has announced taxpayers affected by the April tornadoes and severe storms in Tennessee will have until Oct. 15, 2020, to file various individual and business tax returns and make payments.
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June 19, 2020
The IRS recently released Notice 2020-50 to help retirement plan participants affected by COVID-19 take advantage of CARES Act provisions providing enhanced access to plan distributions and plan loans.
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May 28, 2020
The Treasury Department and IRS recently announced they are providing relief for taxpayers developing renewable energy projects.
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May 27, 2020
The Department of the Treasury and IRS recently issued final regulations clarifying the reporting requirements generally applicable to tax-exempt organizations.
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May 13, 2020
The IRS recently issued proposed regulations under the Tax Cuts and Jobs Act (TCJA) providing guidance to taxpayers and governments with respect to fines, penalties and certain other amounts.
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May 13, 2020
The IRS recently released guidance to allow temporary changes to section 125 cafeteria plans to extend the claims period for health flexible spending arrangements (FSAs) and dependent care assistance programs as well as allow taxpayers to make mid-year changes.
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May 5, 2020
The IRS recently released guidance via Notice 2020-32 stating taxpayers that receive a loan through the PPP can’t deduct expenses that are normally deductible if those expenses were reimbursed by a PPP loan that was subsequently forgiven.
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April 24, 2020
The Treasury Department and IRS recently issued proposed regulations under the Tax Cuts and Jobs Act providing guidance on calculating UBTI for tax-exempt organizations subject to the unrelated business income tax with more than one unrelated trade or business.
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April 10, 2020
The Department of the Treasury and IRS have announced that Notice 2020-23 extends additional key tax deadlines for individuals and businesses.
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