Coronavirus Resource Hub

Get the latest tax and accounting news straight to your inbox and stay up-to-date on the issues affecting your organization

Power of Attorney Appointments Delayed

August 4, 2020
paycheck protection program

The IRS is experiencing delays regarding third-party authorizations. Recording information about third parties appointed under a power of attorney into its Centralized Authorization File (CAF)…

Read More >

FAQs on Deferral of Employment Tax Deposits and Payments

August 3, 2020
tax faqs

The IRS released updated FAQs on employers deferring the deposit and payment of the employer’s share of Social Security taxes and self-employed individuals to defer…

Read More >

Extended Rehabilitation Credit Deadlines

July 30, 2020
lease accounting

The IRS released Notice 2020-58 which provides relief to taxpayers in satisfying the substantial rehabilitation test due to the Coronavirus pandemic. In order to qualify…

Read More >

Temporary Procedure for Filing Application for Change in Accounting Method

July 29, 2020
Application for Change in Accounting Method

The IRS is implementing temporary procedures for fax transmission of the duplicate copy of Form 3115, Application for Change in Accounting Method. The IRS will begin accepting…

Read More >

FAQs on Suspended Installment Agreements

July 28, 2020
tax cpa

The IRS released new FAQs for taxpayers on suspended installment agreements. Taxpayers with an existing installment agreement/payment plan with payments due between April 1 and…

Read More >

Temporary Regulations on Excess Employment Tax Credit

July 27, 2020
tax advisors

The IRS and Treasury Department issued temporary and proposed regulations to reconcile advance payments of refundable employment tax credits provided under the Families First Coronavirus…

Read More >

Watch Out for These “Dirty Dozen” Tax Scams

July 23, 2020
tax scams

Even though the tax deadline has passed, you still need to be aware of ongoing tax scams, including Coronavirus-related schemes. The IRS released its annual…

Read More >

Main Street Lending Program Is Now Available to Nonprofits

July 22, 2020
main street lending program

Not-for-profit organizations can now apply for loans under the Main Street Lending Program. Previously only available to for-profit businesses with more than 100 employees, the…

Read More >

Did You Miss the July 15 Tax Deadline? File Now to Reduce Penalties

July 21, 2020
tax related actions

If you missed the July 15 tax deadline without requesting an extension to October 15, the IRS is reminding taxpayers to file as soon as…

Read More >

July 31 Deadline for Certain Pre-Approved Defined Benefit Plan Actions is Approaching

July 20, 2020
tax advisors

In March, the IRS extended the deadlines for pre-approved defined benefit plan actions for employers due to the Coronavirus pandemic. The IRS extended the following…

Read More >