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The AICPA sent a letter to ask Treasury Secretary Mnuchin to deem public accounting as an “essential service” by the federal government, similar to what many state governors have already done for shelter-in-place orders.
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The Coronavirus Aid, Relief, and Economic Security (CARES) Act, H.R. 748, which passed the Senate by a 96-0 vote late on Wednesday, contains a host of tax measures as part of a $2 trillion aid package designed to help the economy as it suffers from the effects of the coronavirus pandemic. While the focus of the legislation is not tax, a large number of tax provisions are included in the over-600-page bill.
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The IRS posted answers to frequently asked questions related to the relief provided in the Notice. These questions and answers will be updated periodically and are designed to be a flexible tool to communicate information to taxpayers and tax professionals in this changing environment.
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The Secretary of the Treasury has determined that any person (as defined in section 7701(a)(1) of the Code) with a Federal gift tax or generation-skipping transfer tax payment due or the requirement to file Form 709 (United States Gift and Generation-Skipping Transfer Tax Return) on April 15, 2020, is also affected by the COVID-19 emergency for purposes of the relief described in this section III (Affected Taxpayer).
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The Financial Crimes Enforcement Network (FinCEN) would like to reiterate, as previously announced their our website, the annual due date for filing FBARs for foreign financial accounts is April 15.
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The U.S. Department of Labor released its first round of guidance on the Families First Act.
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To help people facing the challenges of COVID-19 issues, the Internal Revenue Service announced today a sweeping series of steps to assist taxpayers by providing relief on a variety of issues ranging from easing payment guidelines to postponing compliance actions.
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Update on Federal and State Tax Responses to COVID-19 Pandemic - Federal Tax Alert from Bradley Law
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Governor Kay Ivey and the Alabama Department of Revenue announced today that the state income tax filing due date is extended from April 15, 2020, to July 15, 2020.
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The 2020 Census is happening now. You can respond online, by phone, or by mail.
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The Alabama Law Enforcement Agency is modifying its Driver License Division’s statewide operations in response to the Coronavirus (COVID-19).
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The Federal Emergency Declaration last week activated the SBA’s Economic Injury Disaster Loan program (EIDL). These loans will provide working capital to small businesses suffering substantial economic injury as a result of the Coronavirus (COVID-19).