Pellegrino, Saccomani & Wells, CPA's, LLP
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Covid-19 Special Update: Coronavirus Tax Relief and Economic Impacts Payments

IRS is offering tax help for taxpayers, businesses, tax-exempt organizations, and others – including health plans – affected by a coronavirus (COVID-19).

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Covid-19 Special Update: House gives final passage to $484bn coronavirus relief bill.

House gives final passage to $484bn coronavirus relief bill.


Covid-19 Special update: IRS extends more tax deadlines

WASHINGTON — To help taxpayers, the Department of Treasury and the Internal Revenue Service announced today that Notice 2020-23 (PDF) extends additional key tax deadlines for individuals and businesses.

Last month, the IRS announced that taxpayers generally have until July 15, 2020, to file and pay federal income taxes originally due on April 15. No late-filing penalty, late-payment penalty or interest will be due.

Today’s notice expands this relief to additional returns, tax payments, and other actions. As a result, the extensions generally now apply to all taxpayers that have a filing or payment deadline falling on or after April 1, 2020, and before July 15, 2020. Individuals, trusts, estates, corporations, and other non-corporate tax filers qualify for the extra time. This means that anyone, including Americans who live and work abroad, can now wait until July 15 to file their 2019 federal income tax return and pay any tax due.

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Covid-19 Special Update: The Cares Act has passed. Here are the key highlights

The two parties came together, and after only a smidgen of negotiating, passed the $2 trillion coronavirus economic stimulus bill. As anticipated, President Donald Trump signed it into law on Friday, March 27, 2020.

This legislation is aimed at providing relief for individuals and businesses that have been negatively impacted by the coronavirus outbreak.

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