By Sidney Kess
The CPA Journal
April 2020
The coronavirus (COVID-19) pandemic has not only upended the economy; it has also been the catalyst for several tax changes. The Families First Coronavirus Response Act (H.R. 6201), which was signed into law on March 18, 2020, creates new paid leave payments for employees and new tax credits for small employers. The Joint Committee on Taxation pegs the cost of this relief at more than $104 billion. In addition to congressional action, the IRS has made some COVID-19 pronouncements of note that Sidney Kess will discuss in this article.
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Published with permission from The CPA Journal.
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