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Client Alert

IRS Grants Additional Extensions and Suspends Collection Activity

April 13, 2020More Extensions Granted for Filing Returns In addition to those previously announced, the IRS has granted extensions for filing of the following returns and payments of amounts due for any of the returns listed below due after April 1, 2020 and before July 15, 2020: Form 706 - Estate and Generation-Skipping Transfer Tax; Form 8971 – Information Regarding Beneficiaries Acquiring Property form a Decedent; Form 709 – United States Gift (and Generation-Skipping Transfer) Tax; Any Estate Tax payment due as a result of an election under sections 6166, 6161, and 6163; Form 990-T – Exempt Organization Business Income Tax; Form 990-PF – Return of Private Foundation or Section 4947 Trust; Form 4720 – Return of Certain Excise Taxes; and All estimated payments made on Form 990-W; 1040-ES, 1041-ES, 1120-W. (This is a change from the extension of only the first quarter estimate to include the June 15, 2020, estimate).Client Alert

IRS Provides Guidance for Payroll Tax Deferrals and Credits

April 13, 2020IRS Provides Guidance for Payroll Tax Deferrals and CreditsClient Alert

CARES Act Changes Rules Governing Retirement Plans

March 30, 2020Among the many other provisions of the CARES Act are those impacting retirement plans (including 401(k)s, profit sharing plans, and IRAs) in order to provide an influx of cash to struggling employees.Client Alert

State of Ohio & Cities Extend Tax Filing Deadline

March 30, 2020On March 27, Governor DeWine signed a bill passed by the legislature to provide tax relief to Ohio taxpayers.Client Alert

UPDATE: U.S. Treasury Secretary Announces Extended Tax Season

March 20, 2020In a move for further relief for taxpayers, U.S. Treasury Secretary, Steve Mnuchin, has announced the April 15, 2020 filing deadline has been extended.Client Alert

IRS Announces Coronavirus Relief

March 19, 2020On March 18, the IRS released Notice 2020-17, Relief for Taxpayers Affected by Ongoing Coronavirus Disease 2019 Pandemic which sets forth the scope of the relief being granted taxpayers.Client Alert

U.S. Treasury Secretary Announces Some Relief for Taxpayers Due to Coronavirus

March 18, 2020In an unprecedented move, U.S. Treasury Secretary, Steve Mnuchin, has announced some limited relief for taxpayers in light of the Coronavirus pandemic.Client Alert

IRS Issues Guidance Relating to High Deductible Health Plans and Coronavirus Testing

March 12, 2020In response to the Coronavirus/COVID-19 pandemic, the IRS has released guidance in Notice 2020-15 relating to the testing and treatment for individuals covered by a High Deductible Health Plan (HDHP).Client Alert

CLIENT ALERT: IRS Announces 401(k) and HSA Contribution Limits for 2020

November 6, 2019With 2020 just around the corner, the IRS announced important information for the upcoming year for both 401(k) Contributions and Health Saving Accounts (HSAs).