2022-2023 Tax Planning Guide
VIEWpoint Issue 1 | 2022
Brief Insights | Meeting Provider Relief Fund Reporting Requireme...
What Do the 2023 Cost-of-Living Adjustment Numbers Mean For You...
Manageable Growth Should Be a Strategic Planning Focus
Is Your Current Bad Debt Allowance Reasonable?
U.S. Secretary of Treasury Steven Mnuchin announced today the tax deadline for U.S. taxpayers will be extended to July 15, 2020. This was at the direction of the Trump administration in an effort to provide additional time to file and make payments without interest or penalties amid the current Coronavirus (COVID-19) pandemic.
Earlier this week, the Treasury Department announced a 90-day deferral on federal tax payments, but taxpayers would still need to file by April 15, 2020. In response to this, the Internal Revenue Service (IRS) issued Notice 2020-17, providing relief for taxpayers affected by the ongoing pandemic.
Additionally, Congress is currently working on a stimulus plan intended to deliver critical financial aid to U.S. businesses and the American public, which is expected to be unveiled in the coming days.
The IRS has not yet announced details related to the said filing deadline extension, but Doeren Mayhew’s tax advisors will continue to closely monitor the situation and keep you updated.
This publication is distributed for informational purposes only, with the understanding that Doeren Mayhew is not rendering legal, accounting, or other professional opinions on specific facts for matters, and, accordingly, assumes no liability whatsoever in connection with its use. Should the reader have any questions regarding any of the news articles, it is recommended that a Doeren Mayhew representative be contacted.
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