We are currently open and are permitting clients in our office. Face masks are mandatory. Please call (860) 648-4002 for further information.
On March 26, 2020, CT Governor Ned Lamont issued Executive Order 7N which among over things, temporarily suspends the $ 0.10 tax on single-use plastic bags through May 15, 2020 unless earlier modified, extended, or terminated by him.More guidance should be issued by the Commissioner of Revenue so check back.
The order also establishes that employees of any retail establishment can not be required to bag items into a customer-provided bag, but does not explicitly ban their use.
The IRS released details of their new "People First Initiative" on March 25, 2020. The steps outlined in this intiative (IR-2020-59) will assist taxpayers by providing relief on a variety of issues ranging from easing payment guidelines to postponing compliance actions.
"The IRS is taking extraordinary steps to help the people of our country," said IRS Commissioner Chuck Rettig. "In addition to extending tax deadlines and working on new legislation, the IRS is pursuing unprecedented actions to ease the burden on people facing tax issues. During this difficult time, we want people working together, focused on their well-being, helping each other and others less fortunate."
"The new IRS People First Initiative provides immediate relief to help people facing uncertainty over taxes," Rettig added "We are temporarily adjusting our processes to help people and businesses during these uncertain times. We are facing this together, and we want to be part of the solution to improve the lives of all people in our country."
Dear Clients, Friends & Associates:
As everyone is aware of the current local and national efforts to diminish the spread of the COVID-19 virus, we at Don Brooks & Associates, Inc. want to let you know our office is currently conducting business in-office. Please do not hesitate to call or email us to discuss any pending or new tax matters.
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.