IR-2020-57, March 20, 2020
WASHINGTON — Today the U.S. Treasury Department, Internal Revenue Service (IRS), and the U.S. Department of Labor (Labor) announced that small and midsize employers can begin taking advantage of two new refundable payroll tax credits, designed to immediately and fully reimburse them, dollar-for-dollar, for the cost of providing Coronavirus-related leave to their employees. This relief to employees and small and midsize businesses is provided under the Families First Coronavirus Response Act (Act), signed by President Trump on March 18, 2020.
On Friday March 20, 2020, Connecticut Governor Ned Lamont issued Executive Order Number 7H. Referred to as "Stay Safe, Stay at Home," the order instructs (among other things) non-essential businesses to institute telecommuting to as large an extent as possible or to close down operations for the immediate future.Guidance on this order is expected throughout the weekend and the order takes effect Monday March 23, 2020 at 8 p.m.
The Internal Revenue Service has issued Notice 2020-18 stating that due to the ongoing Coronavirus emergency, any person with a Federal income tax payment or income tax return due April 15, 2020 has been granted an automatic extension of the due dates until July 15, 2020. It is not necessary to file Forms 4868 or 7004. There is no longer a cap on the amount of the payments that can be deferred. This notice replaces IRS Notice 2020-17.
(Hartford, CT) – The Connecticut Department of Revenue Services (DRS) is using their statutory authority to grant an automatic extension of Connecticut filing deadlines for certain annual tax returns in order to support businesses during the COVID-19 outbreak effectively immediately. This is consistent with the emergency declarations signed by Governor Lamont.
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