The Coronavirus Aid, Relief, and Economic Security (CARES) Act, the stimulus bill that was signed into law on March 27, 2020, contains legislation to stabilize the economy during the coronavirus pandemic.
Relief for taxpayers facing the challenges of COVID-19-related tax issues is now available through the IRS People First initiative.
Small and medium-sized employers can begin taking advantage of two new refundable payroll tax credits, designed to reimburse them for the cost of providing coronavirus-related leave to their employees.
Due to the coronavirus pandemic, the federal income tax filing due date is automatically extended from April 15, 2020, to July 15, 2020.
Taxpayers should be on the lookout for calls and email phishing attempts regarding the Coronavirus, or COVID-19 that could lead to tax-related fraud and identity theft.
