On March 27, 2020, the President signed a bill known as the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). This bill will provide economic relief to individuals, families, small businesses and other sectors of the United States economy. The following is a summary of some key CARES Act Provisions for businesses and individuals.
On March 18, 2020, the Treasury Department and the Internal Revenue Service released Notice 2020-17 and then issued Notice 2020-18, which clarifies the tax filing and payment relief related to the COVID-19 pandemic.
For millions of small businesses and freelancers every year, estimated tax payments are a year-round aspect of their tax payments. Most people don’t have to deal with those changes, but small businesses and some individuals will have to pay these taxes throughout the year. In this short blog, we’ll give you a crash course in estimated tax payments so you can stay on top of it this year.