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Tax Alerts

October 20, 2020

Tax Briefing(s)

2020 Tax Policies of the Major Presidential Candidates 2020 Payroll Tax Deferral Order 2020 Post-Filing Season Update CARES Act Coronavirus Tax Relief

Senate Fails to Pass “Skinny” COVID-19 Relief Bill
On September 10, 2020, the Senate failed to pass the Delivering Immediate Relief to America’s Families, Schools and Small Businesses Act. This bill was described as a targeted proposal, and included...

Higher Penalties on 2019 Returns Filed After September 14
The IRS has warned taxpayers who have not yet filed their 2019 tax returns that higher penalties will be imposed if they file after September 14. Taxpayers who submitted an extension of time to file t...

E-Signatures Temporarily Approved for Certain Forms
The IRS has announced that it is temporarily allowing the use of digital signatures on certain forms that normally require a handwritten signature. The following forms can be submitted with digital ...

Digital Signatures Allowed on More Forms
The IRS had announced that it would temporarily allow the use of digital signatures on certain forms that cannot be filed electronically; the Service has now added several additional forms to that...

IRS Suspends Mailing Notices to Taxpayers with Balances Due
The IRS has temporarily suspended the mailing of three notices—CP501, CP503, and CP504—to taxpayers who have a balance due on their taxes. The IRS is taking this step to avoid confusion for taxpay...

IRS Launches Partnership Audit Website
The IRS announced the launch of the Bi-Partisan Budget Act (BBA) Centralized Partnership Audit Regime website. The website intends to be a one-stop location for anything BBA-related including regulat...

Form 1040 Now Available in Spanish
The IRS will be providing Form 1040 in Spanish for the first time as part of a larger effort to reach underserved communities. The IRS’s newly expanded multilingual initiative is a key part of helpi...

NM - Agricultural biomass credit rules amended
The New Mexico Energy, Minerals and Natural Resources Department has amended rules governing the agricultural biomass credit against corporate and personal income taxes. The rules were amended to conf...

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