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In response to the many conversations we have had with employers and plan sponsors related to the economic disruption caused by COVID-19, we are providing this comprehensive update.

Treasury Secretary Mnuchin announced today (March 20, 2020) that tax returns for individuals and businesses scheduled to be due April 15, 2020 will, instead, be due on July 15, 2020.

While the pandemic has slowed economic activity for the near term, there are ways you can improve your organization’s financial position and potentially access loan capital.

The President declared a national emergency on March 13, 2020 and invoked the Robert T. Stafford Disaster Relief and Emergency Assistance Act (Declaration) in response to the COVID-19 pandemic.

In an effort to provide relief to taxpayers, the Treasury Department issued IRS Notice 2020-17 on March 19, 2020.

The COVID-19 pandemic has resulted in substantial volatility in the global economy.

COVID-19 may not be going away soon, but state income tax deadlines, including the upcoming April 15 deadline, need to be addressed.

After several days of speculating, Treasury Secretary Steven Mnuchin announced on March 17, 2020 that the IRS will postpone the April 15th tax payment deadline for millions of U.S. taxpayers and, thus, waive interest and penalty charges for 90 days past this date for individual taxpayers who owe up to $1 million in tax and for corporations who may owe up to $10 million.

Businesses are now formulating and re-formulating plans to deal with the COVID-19 pandemic.

With the exception of the last bulleted item about the proposed federal Data Protection Agency, this month’s edition of Cyber Roundup soberly sets out various cybercrimes that are morphing into even more destructive acts, resulting in ever-expanding harm to businesses and individuals.

We work with for-profit, not-for-profit and governmental clients, and the majority of these organizations have either a business continuity and/or disaster recovery plan in-place.

The coronavirus has grabbed the attention of the world by inciting fear and uncertainty into people’s lives and bringing into question the operational stability of a business should employees be unable to leave their homes.