- Tax Day is extended from April 15, 2020 to July 15, 2020. Taxpayers can also defer federal income tax payments due on April 15, 2020 to July 15, 2020, without penalties and interest, regardless of the amount owed. This deferment applies to all taxpayers, including individuals, trusts and estates, corporations and other non-corporate tax filers as well as those who pay self-employment tax.
- Under the Families First Coronavirus Response Act (Act) signed by President Trump, small and midsize employers can begin taking advantage of two new refundable payroll tax credits, designed to immediately and fully reimburse them, dollar-for-dollar, for the cost of providing Coronavirus-related leave to their employees. The Act provides all American businesses with fewer than 500 employees funds to provide employees with paid leave, either for the employee’s own health needs or to care for family members.
- Paid Sick Leave for Workers
- Paid Sick Leave Credit
- Child Care Leave Credit
- Prompt Payment for the Cost of Providing Leave
- Complete Coverage
For more information about these credits and other relief, visit IRS.gov/coronavirus.