Tax Resolution Attorney John P. Willis Tells Readers The IRS May Be Providing Penalty Relief For Those Who Missed September 15 Deadline Due To COVID-19.
Tax resolution attorney John Willis, CEO and founder of IRSALLSTAR writes about possible penalty relief for missing corporate tax filing deadline as well as a possible new payroll tax credit to help protect employees from COVID-19 .
Fairhope, AL, September 30, 2020: Tax Attorney John Willis, CEO and founder of IRSALLSTAR.com, recently published an article on his website entitled “Possible Penalty Relief For Those Who Missed Sept. 15 Corporate Tax Deadline.” Mr. Willis encourages business owners to take advantage of every possible opportunity that can help them survive the pandemic.
Willis writes, “If your business’s fiscal year-end is June 30 and you missed the corporate tax filing deadline on September 15, you may be able to avoid paying penalties if you missed the deadline due to COVID-19 hardships.” He elaborates, “The IRS understands that people are impacted by coronavirus, and if you are really trying to be compliant, the IRS doesn’t want to penalize you. In other words, the IRS is flexible in granting penalty relief where taxpayers can demonstrate good-faith efforts in filing their returns”
“Apparently,” says Willis, “you simply have to write COVID-19 at the top of your tax return. According to an AccountingToday.com article, AICPA said that the IRS has said they would recognize that as an indication of needing penalty relief. Though it is not a blanket forgiveness. Good faith effort must be seen.” https://www.accountingtoday.com/news/penalty-relief-may-be-available-to-taxpayers-who-miss-sept-15-tax-deadline-due-to-covid-19
According to Willis, “On another front, COVID-19 has politicians scrambling to create programs that will help fuel economic recovery. One republican Congressman from Texas, Pete Olson, has introduced The Businesses Preparing for a Better Tomorrow Act, which, if passed would provide a payroll tax credit to employers for expenses used for qualified workplace best practices training associated with protecting employees from COVID-19.” He goes on to add, “According to the new bill, qualified workplace training expenses would be defined as amounts paid or incurred by the employer for education and training with respect to industry best practices and recommendations made by the Centers for Disease Control and Prevention or the Occupational Safety and Health Administration, with the primary purpose of preventing the spread of COVID-19.”
The entire article can be read at: http://www.irsallstar.com/blog/possible-penalty-relief-for-those-who-missed-sept-15-corporate-tax-deadline.php
ABOUT JOHN WILLIS
Mr. Willis believes strongly in supporting and representing the “underdog” and has devoted his entire professional life to protecting and defending those who need it most. As an attorney, Mr. Willis takes his role as “counselor” seriously. His knowledge, creativity and persistence are valuable assets that provide substantial benefits to his clients. He has represented individuals and businesses across the Gulf Coast for over 21 years and, he brings together an abundance of skills and experience that can be of assistance to almost anyone.
ABOUT THE IRSALLSTAR TEAM
The IRSALLSTAR team has developed a winning formula to ensure that each client’s individual needs are specifically met. Upon becoming a client of Mr. Willis’ law firm, that client’s immediate needs are assessed, and long-term goals are defined. Experienced professionals on the IRSALLSTAR team then assist each client in developing and implementing a custom-tailored game plan to provide both short-term and long-term relief from his or her serious tax problems. All firm clients are continually coached toward successful tax resolution and final victory over their challenges with the IRS and state taxing authorities. The entire blog can be found at http://www.irsallstar.com/blog/irs-tax-controversy-even-death-cant-stop-the-irs.php
To learn more about Mr. Willis and his law firm please visit http://www.IRSALLSTAR.com or call toll-free 877-254-4254.