The following is a list of COVID 19 tax updates for March 31, 2020:
- Treasury Delays Tax and Reporting Due Dates for Alcohol, Tobacco, Firearms and Ammunition Businesses Hit by COVID-19
- IRS FAQs: Employee Retention Credit available for many businesses financially impacted by COVID-19
- Notice 2020-22: Penalty relief, reduced federal employment tax deposits in anticipation of tax credits (COVID-19)
- Form 7200-Draft form: Advance payment of employer credits due to COVID-19.
- Instructions for Form 7200- draft form: Advance payment of employer credits due to COVID-19.
- Senate Finance Committee FAQs on CARES Act employee retention credit.
- IRS Services and Enforcement Employees to accept and transmit documents by email on temporary basis.
Posted by Lewis J. Saret, Co-General Editor, Wealth Strategies Journal.