e-News for Small Business Issue 2020-11

e-News for Small Business June 30, 2020
Tax Resources for Small Business Small Business and Self-Employed One-Stop Resource Small Business Forms & Instructions Small Business Events Small Business Webinars e-File for Businesses and Self-Employed Businesses with Employees Small Business Products Self-Employed Individuals S Corporations Other Resources IRS.gov Find it Fast! All Forms and Instructions Filing Your Taxes Make a Payment Taxpayer Advocate Service Retirement Plans Tax Information for Charities and Other Non-Profits State Links SSA/IRS Reporter IRS Social Media	e-News for Small Business Issue 11 Inside This Issue July 15 tax deadline approaching Business payment P.O. Boxes in Cincinnati and Hartford closed as of July 1 Deferral of employment tax deposits and payments through December 31, 2020 IRS provides guidance on employer leave-based donation programs that aid victims of the COVID-19 pandemic 1.  July 15 tax deadline approaching As the 2019 tax filing and payment deadline approaches, the IRS reminds businesses and self-employed individuals that 2019 income tax liabilities as well as postponed April 15 and June 15, 2020 estimated tax payments are due July 15, 2020. Back to top 2.  Business payment P.O. Boxes in Cincinnati and Hartford closed as of July 1 July 1 marks the closing of several business payment P.O. Boxes (also known as Lockbox addresses), in the Cincinnati and Hartford areas. Payments will be returned to sender and no forwarding service will be offered. Go to Where to File on IRS.gov for current payment addresses. See Publication 3891, Lockbox Addresses for 2020, for more information. Back to top 3.  Deferral of employment tax deposits and payments through December 31, 2020 The Coronavirus, Aid, Relief and Economic Security Act (CARES Act) allows employers to defer the deposit and payment of the employer's share of Social Security taxes and self-employed individuals to defer payment of certain self-employment taxes. These FAQs address specific issues related to the deferral of deposit and payment of these employment taxes. The FAQs will be updated to address additional questions as they arise. Back to top 4.  IRS provides guidance on employer leave-based donation programs that aid victims of the COVID-19 pandemic The IRS recently provided guidance for employers whose employees forgo sick, vacation or personal leave because of the COVID-19 pandemic. Notice 2020-46 (PDF) provides that cash payments employers make to charitable organizations that provide relief to victims of the COVID-19 pandemic in exchange for sick, vacation or personal leave which their employees forgo will not be treated as compensation. Similarly, the employees will not be treated as receiving the value of the leave as income and cannot claim a deduction for the leave that they donated to their employer. Additional information about tax relief for those affected by the COVID-19 pandemic can be found on IRS.gov. Back to top               Thank you for subscribing to this IRS email service. This message was distributed automatically from the mailing list e-News For Small Business. Please do not reply to this message.

---

Update your subscriptions, modify your password or email address, or stop subscriptions at any time on your Subscriber Preferences Page. You will need to use your email address to log in. If you have questions or problems with the subscription service, please contact subscriberhelp.govdelivery.com. This service is provided to you at no charge by the Internal Revenue Service (IRS).

---

This email was sent to business.solutions.ve@gmail.com by: Internal Revenue Service (IRS) · Internal Revenue Service · 1111 Constitution Ave. N.W. · Washington DC 20535