Coronavirus and Taxes Part 3

In what I believed should have been announced from the outset was announced today:  The IRS filing date of April 15 is now July 15.  This is not a deferment period to pay but the actual due date for 2019’s individual income tax returns.  While there has not been any written guidance from the IRS as of this writing, I am assuming that everything I mentioned in yesterday’s pronouncement remains the same.


Remember if you believe you are due a tax refund file as soon as possible to get your money back.


This change by the IRS only affects the Federal filing.  Currently there is no change to the state filings for New Jersey and New York.


The IRS announced today that they have temporarily closed all Taxpayer Assistance Centers and discontinued face to face service throughout the country until further notice.  The IRS says they will still continue to process tax returns.


The United States has enacted the Families First Coronavirus Response Act, which will require employers with fewer than 500 employees to provide paid leave to employees who are impacted by COVID-19 and offer tax credits to employers that do so. The law takes effect no later than April 2, 2020 and expires on December 31, 2020.


The law contains three sections of particular interest for employers:

  • Emergency Paid Sick Leave Act
  • Emergency Family and Medical Leave Act Expansion
  • Tax Credits for Paid Sick and Paid Family and Medical Leave


If you need more information on this please let me know.

I will do my best to keep everyone informed as to changes that affect your taxes.  Feel free to reach out to me to discuss your situation.  Be safe everyone.