Below is a summary of the individual and business tax provisions of the Coronavirus Aid, Relief, and Economic Security (“CARES”) Act, signed by President Trump on March 27, 2020. For provisions relating to retirement plans, please click here for a summary by Spencer Fane’s Employee Benefits Group.
Updated: April 14, 2020
Federal and State Income Tax Filing and Payment Extensions Affecting Individuals In Response to COVID-19 Crisis
Federal, state, and local governments have extended income tax filing and payment deadlines in response to the COVID-19 crisis. The extensions which affect individuals (including entities from which individuals may receive distributions or Forms K-1) are summarized below. This summary does not include provisions applicable to employers.