On March 27, 2020, the IRS published Notice 2020-20, which expands relief provided previously in Notice 2020-18. The notice extends the due date for Form 709, (Gift and Generation Transfer Skipping Tax Return), as well as the date for making payments of Federal gift and generation-skipping transfer tax from April 15, 2020 until July 15, 2020.
Covid-19 has obviously caused a shock to the global economy and disrupted, on a massive scale, normal consumer behavior patterns, stalling a bullish economy into a decline.
The COVID-19 pandemic is forcing changes on us and our workforce.
Working from home, expanding use of collaboration solutions, and
leveraging the cloud to stay productive are all positives we can carry
forward as the pandemic winds down. Along with these, we are also seeing
significant increases in phishing attacks and online fraud.
What is essential business? Are my customers and essential business? Who is an essential employee? Am I an essential employee? These are questions that we did not find ourselves asking a couple of months ago but are now forced to examine.