The IRS postpones Filing and Payment Deadlines

  The IRS recently announced special Federal income tax return filing and payment relief in Notice 2020-18, which expands on the relief provided in Notice 2020-17. Specifically, the due date for filing Federal income tax returns and payments has been postponed from April 15, 2020 to July 15, 2020. There is no limit to the…

The IRS Extended Payment Deadline

The Treasury Department and the Internal Revenue Services are providing special payment relief for taxpayers Payment Deadline ExtenThe Treasury Department and the Internal Revenue Service are providing special payment relief to individuals and businesses in response to the COVID-19 Outbreak. The filing deadline for tax returns remains April 15, 2020. The IRS urges taxpayers who…

IRS to End Offshore Voluntary Disclosure Program

The IRS recently announced that is ending its OVDP program which has been in effect since 2009, closing it by September 28, 2018. The OVDP is a voluntary disclosure program specifically designed for taxpayers with exposure to potential criminal liability and/or substantial civil penalties due to a willful failure to report foreign financial assets and…