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U.S. Treasury Department Secretary Steven Mnuchin announced that the 2019 income tax filing deadline will be moved to July 15, 2020 from April 15, 2020, because of the coronavirus (COVID-19) outbreak. At President Trump’s direction, Mnuchin announced on Twitter, “we are moving Tax Day from April 15 to July 15. All taxpayers and businesses will

After U.S. Treasury Secretary Steven Mnuchin’s announcement that the deadline for paying federal income taxes would be extended, the IRS released guidance on March 18 outlining the details. IRS Notice 2020-17 follows up on President Trump’s Emergency Declaration that, among other things, instructed Mnuchin to provide relief from tax deadlines for taxpayers adversely affected by

Several arms of the federal government have taken, or are weighing, significant steps to help the country deal with the spread of the coronavirus (COVID-19) and the implications for individuals and businesses. On March 14, the U.S. House of Representatives overwhelmingly passed a bipartisan 110-page bill that has received support from President Trump and, as

U.S.-listed companies (including companies based in the U.S., companies based in China and companies based outside of the U.S. but not based in China) may have significant operations in China and other jurisdictions, such as Japan and Singapore, that may be affected by the coronavirus. In addition, companies that do not themselves have operations in

On March 11, 2020, the IRS issued Notice 2020-15 that allows high deductible health plans (HDHPs) to pay for testing and treatment of the coronavirus (COVID-19) without jeopardizing their tax status. Consequently, an individual enrolled in an HDHP that covers these costs continues to be eligible to contribute to a health savings account (HSA). Background A health