Family First Coronavirus Response Act

Signed into law on March 18th, 2020, and effective April 1st, 2020 until December 31, 2020, the Family First Coronavirus Response Act (FFCRA, H.R. 6201)[1] provides paid sick leave and expanded family and medical leave for reasons related to COVID-19. The Department of Labor’s Wage and Hour Division will enforce the new law’s requirements[2]. This act included the Emergency Paid…

CARES Act Highlights – National Society of Accountants

Please find these highlights regarding the CARES Act, Title I, provided by the National Society of Accountants (NSA): March 30, 2020CARES Act UpdateTitle I HighlightsCoronavirus Aid, Relief, and Economic Security Act President Trump signed the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) into law on March 27, 2020. The CARES Act allocates $2.2 trillion for assistance to individuals,…

TAX RETURN DEADLINE: JULY 15, 2020; Aligns with Delayed Payment Deadline

As of Saturday March 21, 2020, the federal income tax filing due date has been extended to July 15, 2020, according to an announcement by the Treasury Department and IRS[1]. This follows a press conference held on March 17th, 2020 in response to the COVID-19 pandemic, where Treasury Secretary Steven Mnuchin stated that the deadline for payment has been extended…