Posted on 03/15/2020 2:47:51 PM PDT by Raycpa
March 15, 2020 — Volume 27 No. 13
Yesterday, we told you about our efforts and conversations with the Treasury Department and the IRS to secure filing and payment relief for taxpayers and tax preparers in light of the uncertainty and challenges caused by the spread of the Coronavirus (COVID-19) pandemic.
Based upon our conversations, we anticipate that Treasury and the IRS will announce this week an extension of the April 15th deadline by as much as 90 days, and a waiver of penalties and interest for most taxpayers.
Additionally, Treasury and the IRS are aware of the major deadline for businesses tomorrow, March 16th, and the challenges facing taxpayers and tax preparers in meeting that deadline. They have indicated that they would be generous in determining reasonable cause abatement of any penalties for taxpayers and tax preparers unable to file in a timely manner.
We will continue to keep you updated as we receive more information.
You can also visit our AICPA Coronavirus Resource Center for frequent updates and resources to help you manage clients’ needs and your business at this time.
A month out...President Trump is suspending all taxes and closing many federal agencies. Nancy Pelosi is seen behind PREZ tearing up the tax code at this historic event.
https://www.youtube.com/watch?v=54BCLYNkFKg
IMO best R&R song in American history. YMMV.
“They said they wouldn’t take it seriously until the IRS moved the date.”
I’ve never heard anyone say that.
If Trump was aggressive he would postpone filing day until November 1st, right before election day. Let everyone file their taxes right before they vote.
The way the government has been throwing money around since I-don’t-know-when, why don’t we just call off income taxation entirely???
There’s a giant sucking sound in the government’s money tub, and a few drops of taxpayer ‘contributions’ are not going to stop THAT
That’s nice...
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