The CARES Act contains a number of provisions impacting businesses. This chart is meant to highlight the tax modifications and provide some potential planning ideas.
The Internal Revenue Service (IRS) released Notice 2020-23, announcing their extension of many additional key tax deadlines for both businesses and individuals.
On April 14, the Governmental Accounting Standards Board (GASB) released a statement proposing the postponement of the effective dates of certain accounting and financial reporting requirements set to go into effect soon.