As Americans join together to defeat COVID-19, governments at all levels have shown us an unprecedented response. At the Federal level, laws are being passed in rapid succession, regulations are being prepared, and agencies are working tirelessly to implement new laws and temporary relief measures, all while working remotely, shutting posts of duty, and government workers being subject to potentially contracting the highly contagious coronavirus themselves.
The acts which Congress has already passed affect every business, man, woman, and child in the United States. In some cases the Congress has added significant provisions to the Internal Revenue Service. Others are in the realm of labor law. Shown below are some resources on the many developments in response to COVID-19. It is a work in progress. New information is coming out daily and we will be frequently updating a list of resources, to include our own commentary and analysis. It will be made available under resources at www.mopsicktaxlaw.com. Check often for updates.
Federal Legislation Related to Coronavirus Response
• Families First Coronavirus Response Act (FFCRA)
FFRCA responds to the COVID-19 outbreak by providing paid sick leave, tax credits, and free COVID-19 testing;
expanding food assistance and unemployment benefits; and increasing Medicaid funding.
• Coronavirus Aid, Relief, and Economic Security Act (CARES Act)
The CARES Act provides emergency assistance and health care response for individuals, families, and businesses
affected by the coronavirus pandemic.
• Coronavirus Preparedness and Response Supplemental Appropriations Act (CPRSA Act):
CPRSA provides $8.3 billion in emergency funding for federal agencies to respond to COVID-19
IRS Issued Notices and Announcements Relating to Coronavirus Relief Measures
• IR-2020-62, IRS: Employee Retention Credit available for many businesses financially impacted by COVID-19
• gov/newsroom/economic-impact-payments-what-you-need-to-know">IR 2020-61, Economic impact payments: What you need to know
• IR-2020-59, IRS unveils new People First Initiative; COVID-19 effort temporarily adjusts, suspends key compliance program
• IR-2020-58, Tax Day now July 15: Treasury, IRS extend filing deadline and federal tax payments regardless of amount
• IR-2020-57, Treasury, IRS and Labor announce plan to implement Coronavirus-related paid leave for workers and tax credits
for small and midsize businesses to swiftly recover the cost of providing Coronavirus-related leave
• Treasury News Release: Treasury and IRS Issue Guidance on Deferring Tax Payments Due to COVID-19 Outbreak
• IR-2020-54, IRS: High-deductible health plans can cover coronavirus costs
• IR-2020-64, IRS issues warning about Coronavirus-related scams; watch out for schemes tied
• Notice 2020-22, Relief from Penalty for Failure to Deposit Employment Taxes
• IRS Internal Memo, IRS to allow email, images of signatures and digital signature: New COVID-19 Protocols
• IRS Evacuation Order: IRS Order to Employees: Evacuate Your Post of Duty
• Filing and Payment Deadline Extension
• Employee Retention Credit Under the CARES Act
• Assistance For Small Businesses, Paycheck Protection Loans
U.S. Department of Labor
• Coronavirus Resources page: www.dol.gov/coronavirus
• Families First Coronavirus Relief Act: Employer Paid Leave Requirements: https://www.dol.gov/agencies/whd/pandemic/ffcra-employer-paid-leave