This afternoon the IRS finally followed up on Secretary of the Treasury’s prior comments about some relief of penalties and interest for the late payment of taxes by releasing IRS Notice 2020-17. Individuals: Income tax payment deadlines for individual returns, with a due date of April 15, 2020, are being automatically extended until July 15, 2020, for up to $1 million of their 2019 tax due.
Current information about business, tax and financial challenges during the current Covid-19 health crisis. Covers both business and personal income tax planning and compliance and business capital challenges.