The IRS has released the following notices:
IRS Notice 2020-18 officially states, “For an Affected Taxpayer, the due date for filing Federal income tax returns and making Federal income tax payments due April 15, 2020, is automatically postponed to July 15, 2020. Affected Taxpayers do not have to file Forms 4868 or 7004. There is no limitation on the amount of the payment that may be postponed.”
Download the notice here.
IR-2020-57 states that the Treasury, IRS and Department of Labor have announced a plan to implement Coronavirus-related paid leave for workers. The announcement also includes information regarding tax credits for small and midsize businesses to help recover the costs of the leave plan.
Download this notice here.