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Posted on Mar 20, 2020

Borshoff Consulting, LLC

We are all trying to keep up with the changes that are happening daily with regard to the Government’s response to the COVID-19 crisis.

President Trump signed the Families First Coronavirus Response Act (H.R. 6201) into Law, and while the bill is quite extensive the major provisions of the law include the following:

The bill provides new employee leave benefits, including instituting paid sick leave options for employees who work for employers with fewer than 500 employees.
Businesses will be able to take advantage of new tax credits to offset new costs associated with paid emergency leave and sick leave benefits implemented under the bill, as well as credits for health plan expenses affiliated with emergency and sick leave wages.

The IRS Extended the Federal Filing Deadline to July 15, 2020 for Individuals and Corporations.

The Indiana Department of Revenue also announced yesterday that they are following suit with the above mentioned Federal Guideline.

If you owe taxes this year, these agencies are also indicating that the payment plans available may well be interest and penalty-free.

So if you owe taxes and don’t feel comfortable having to pay the amounts due in full, now may be the perfect time to check out the following payment plan sites:

Here is the link to the IRS Payment agreement application:

Here is the link to the IDOR Payment Site:
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