Archive for ‘Focus on IRS and Treasury’
EO Tax Journal 2020-73
1 – Quote of the Week
2 – Editor’s Notebook
3 – The EOTJ Mailbag
4 – In the News
5 – The IRS’s EO Update (April 14, 2020)
6 – Deferral of Employment Tax Deposits and Payments through December 31, 2020
7 – Higher Ed Organizations Seek Passage of New Tax Provisions Continue…
EO Tax Journal 2020-72
1 – Editor’s Notebook
2 – In the News
3 – 2020 CARES Act: FAQs for Nonprofit Organizations and Donors Continue…
EO Tax Journal 2020-70 (Supplement)
Editor’s Notebook
I noted today that I was uncertain how IRS Notice 2020-23 applies to the 990 series of returns (except for 990-T and 990-PF). I said that I thought Notice 2020-23 provided little IRS filing relief for tax-exempt organizations other than Forms 990-T, 990-PF, and 4720. I then said If anyone can clarify these points for me, please do so.
Almost immediately I started getting clarifications from readers. Most importantly, the IRS informed me that Notice 2020-23 does extend relief for Form 990 series filers since we are to read the Notice in conjunction with Rev. Proc. 2018-58. That’s a little confusing, but how this comes about is explained below by Laura Kenney. Other hat tips go to Ted Batson, Eve Borenstein, Ruth Madrigal, Alex Mitchell, Elinor Ramey, and Frank Smith. Continue…
EO Tax Journal 2020-70
1 – Editor’s Notebook
2 – Treasury and IRS Extend Over 300 Tax Filing, Payment and Administrative Deadlines
3 – Notice 2020-23, Additional Relief for Taxpayers Affected by Ongoing Coronavirus Disease 2019 Pandemic
4 – Employer Sponsored Disaster Relief Programs – Four Options to Consider
5 – Federal Reserve Takes Additional Actions to Provide up to $2.3 Trillion in Loans to Support the Economy
6 – Treasury Approves New Main Street Business Lending Program
7 – Nonprofit Community Calls for Nonprofit Track in Reforms to the CARES Act Continue…
EO Tax Journal 2020-69
1 – Editor’s Notebook
2 – IRS Signals that Private COVID-19 Disaster Relief Programs Qualify for Tax Benefits
3 – Department of Labor Issues Expanded Guidance regarding Families First Coronavirus Response Act (FFCRA) Including Applicability of FFCRA to Reduced Work Hours; IRS Issues Additional Guidance on FFCRA Payments and Draft Form 7200 to Accelerate the Payment of Refundable FFCRA Payroll Tax Credits
4 – SBA Answers FAQs on Paycheck Protection Program Loans
5 – Restricted Access Results in Denial of Homeowners’ Association under Section 501(c)(4) (Denial 202014018) Continue…