Ideas & Insights

Extensions for tax returns and payments due to the Coronavirus pandemic are largely inapplicable for most exempt organizations.

The IRS has implemented staff reductions and closed taxpayer assistance centers, which could affect mission-critical operations.

Federal income tax filing and payment relief extension to July 15, 2020 may not apply to all state income tax filings.

Among other topics, a recent interagency statement addresses the accounting for loan modifications made in response to COVID-19.

The IRS issued Notice 2020-18 which supersedes Notice 2020-17 and provides income tax filing and payment relief to affected taxpayers.

On March 19, the U.S. Senate released the third round of emergency assistance resulting from the 2020 COVID-19 pandemic.

Limited sales and use tax filing and payment relief has been included in some of the state and local COVID-19 response guidance.

Discussion of how tax-exempt organizations can provide assistance to those impacted by the coronavirus pandemic.

The IRS issued Notice 2020-17 to provide guidance to taxpayers regarding extended tax payment deadlines due to the Coronavirus pandemic

Congress passes the Families First Coronavirus Response Act that mandates paid leave for employees impacted by COVID-19.

The SEC and the PCAOB recently issued guidance regarding financial reporting considerations related to the coronavirus.