IRS News IRS People First Initiative provides relief to taxpayers facing COVID-19 issues episode artwork

EPISODE · May 14, 2020 · 10 MIN

IRS News IRS People First Initiative provides relief to taxpayers facing COVID-19 issues

from Tax & Current Accounting Topics

IRS News IRS People First Initiative provides relief to taxpayers facing COVID-19 issues  https://www.irs.gov/newsroom/irs-peop... Tax Tip 2020-56, May 13, 2020  Due to COVID-19, the IRS' People First Initiative provides relief to taxpayers on a variety of issues from easing payment guidelines to delaying compliance actions. This relief is effective through the filing and payment deadline, Wednesday, July 15, 2020.  Existing Installment Agreements –Under an existing Installment Agreement, payments due between April 1 and July 15, 2020 are delayed. Those currently unable to meet the terms of an Installment Payment Agreement or Direct Deposit Installment Agreement may cancel payments during this period with no default. By law, interest will continue to accumulate on any unpaid balances.

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IRS News IRS People First Initiative provides relief to taxpayers facing COVID-19 issues

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