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UAA Model Rules Changes Exposed For Comment
Comment period open until August 31, 2020 for UAA Model Rules Changes Exposure Draft
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IRS Notice 2020-23 to Extend More Tax Deadlines for Individuals and Businesses
Effective April 9, 2020 - The IRS released the attached Notice 2020-23 to extend more tax deadlines for individuals and businesses. The relief covers taxpayers that have a filing or payment deadline between April 1 and July 15, 2020. It applies to fiscal year entities, estate tax returns, nonprofit organizations, information returns and more. In addition, the deadline for second quarter estimated tax payments has been moved from June 15 to July 15, and the relief is automatic so taxpayers don’t need to file any extension forms to get the relief.
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President Instructs IRS to Extend April 15 Tax Deadline Due to Coronavirus
President Donald Trump has instructed the Treasury Department and IRS to extend the April 15, 2020 deadline for filing federal income tax returns for those affected by Coronavirus. The change is only for this year.
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AICPA Calls for Tax Relief for Individuals and Businesses Amid Coronavirus Pandemic
The American Institute of CPAs (AICPA) today called for the Treasury Department and the IRS to provide relief to all taxpayers in light of the uncertainty and challenges caused by the spread of the Coronavirus (COVID-19) pandemic. Specifically, we request that Treasury and the IRS consider the following recommendations, which will provide extensive relief to millions of individuals and businesses: