Blog

19
Mar

Employers Can Immediately Provide Tax Free Qualified Disaster Payments to Employees in Connection with COVID-19

Employers are scrambling to find ways to help their employees who are impacted by the novel coronavirus (COVID-19). Help is available. Now that the COVID-19 has been declared a national emergency,[1] Internal Revenue Code Section 139 can be used to allow employers to make tax-free payments or reimbursements to employees as “qualified disaster payments.” Below are some frequently asked questions about how employers can use Section 139 immediately to help employees…  Read more

19
Mar

Federal Aid Package Helps Individuals Affected by COVID-19

The Families First Coronavirus Response Act (H.R. 6201),  became law on March 18, 2020. The Act guarantees free testing for the novel coronavirus (COVID-19), establishes emergency paid sick leave, expands family and medical leave, enhances unemployment insurance, expands food security initiatives, and increases federal Medicaid funding. The Act includes up to 80 hours of emergency paid sick leave for workers who are unable to work while they are sick or…  Read more

19
Mar

IRS Releases COVID-19 Payment Relief

UPDATED April 9, 2020: The Department of Treasury and the Internal Revenue Service announced extensions for additional tax deadlines in Notice 2020-23. The extension generally now applies to all taxpayers that have a filing or payment deadline falling on or after April 1, 2020, and before July 15, 2020. Key takeaways from the announcement: Individual taxpayers who need additional time to file beyond the July 15 deadline can request an extension to Oct. 15,…  Read more