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Paul Zimmerman

Showing 4 posts by Todd Anderson.

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IRS Releases “People First Initiative” Temporarily Adjusting and Suspending Key Compliance Actions

The Internal Revenue Service continues to respond in the wake of the COVID-19 pandemic. On the heels of the decision to move tax day to July 15—as Michelman & Robinson reported here—the agency has taken additional measures to relieve taxpayer burdens.

In News Release IR-2020-59, the IRS announced its “People First Initiative” that, among other things, eases certain payment guidelines and postpones compliance actions. M&R provides the details here in question and answer form. (Read More)

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UPDATE: The IRS and States Provide Tax Relief in the Wake of the Coronavirus Pandemic

UPDATE – This alert has been updated to reflect the IRS’s issuance of an advance copy of IRS Notice 2020-18 (issued on March 20, 2020) and IRS Information Release IR-2020-58 (issued on March 21, 2020)****
President Donald Trump issued an emergency declaration on March 13, 2020 instructing the Secretary of Treasury, Steven Mnuchin, “to provide relief from [federal] tax deadlines to Americans who have been adversely affected by the COVID-19 emergency, as appropriate . . ..” Secretary Mnuchin followed those instructions earlier this week by announcing that the IRS would relax certain U.S. federal income tax payment obligations that are traditionally imposed each year on April 15. The Internal Revenue Service memorialized those U.S. federal income tax payment extension rules in IRS Notice 2020-17 (issued on March 18 and found here). (Read More)
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M&R Coronavirus Risk Mitigation Team: A Multi-Disciplinary Legal Team Ready To Immediately Address A Host Of Coronavirus-Related Issues for Businesses, Quickly And Holistically

In the wake of the coronavirus (COVID-19) outbreak, which has had an unprecedented impact on how businesses operate around the world, Michelman & Robinson, LLP has announced the formation of an interdisciplinary risk mitigation response team to assist companies across sectors adversely affected by the pandemic.

(Read More)

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Michelman & Robinson Breaks Down the Families First Coronavirus Response Act

The House passed sweeping legislation Saturday to respond to the coronavirus outbreak, an overwhelmingly bipartisan vote to expand access to free testing, provide $1 billion in food aid, and extend sick leave benefits to vulnerable Americans. Here, in question and answer form, Michelman & Robinson, LLP addresses some of the employment and tax implications of the bill that may be of particular interest to you.

(Read More)