On Friday, March 20th, the IRS issued Notice 2020-18, Relief for Taxpayers Affected by Ongoing Coronavirus Disease 2019 Pandemic. This provides individual and corporate taxpayers an extension for the tax return filing and payment deadline to July 15, 2020.

Notice 2020-18 expands upon and supersedes Notice 2020-17.

With this in mind, we want to share with you a special tax briefing which summarizes the following:

  • Tax Return Due Date Moved to July 15
  • New Law Mandates Paid Leave
  • Tax Credits Provided for Paid Leave
  • IRS issues additional guidance

 

 

The briefing may be downloaded here or by clicking the image above.

Additionally, we are keeping PKFTexas.com/COVID-19 up-to-date with information and resources to assist you as we all navigate these quickly-changing times.

If you have questions about how the information in this briefing applies to your tax situation, please connect with your PKF Texas tax team members.