The IRS issued Notice 2021-21 to provide additional guidance on the postponement of the federal April 15 tax deadline to May 17, 2021 for individuals.
A significant change for HEERF II funds compared to the HEERF I funds is that lost revenues are now specifically considered to be allowable costs.
On March 19, 2021, the Office of Management and Budget (OMB) issued Memo M-20-21, which was addressed to federal agencies. The memo contains several items, but perhaps the most important is a single audit submission extension discussed below.
For a second straight year, the Internal Revenue Service has delayed the April 15 tax filing deadline.