Updates for exempt organizations (COVID-19)

Updates for exempt organizations (COVID-19)

Tax-related developments that may affect tax-exempt organizations affected by the coronavirus (COVID-19) pandemic are included in the following:

1000

Related content

  • IRS Appeals temporarily is accepting digital signatures (scanned or photographed) on documents related to consideration of a taxpayer’s case by Appeals, and accepting documents by email and is authorizing the transmittal of documents to taxpayers using SecureZip or other established secured messaging systems, through July 15, 2020. Read TaxNewsFlash

  • IRS Services and Enforcement employees are temporarily accepting documents by email and digital signatures on certain documents, and are also allowed to transmit documents to taxpayers using SecureZip or other established secured messaging systems, though July 15, 2020. Read TaxNewsFlash

  • KPMG reports about employer-related tax credits, deferrals, and efficiencies that encourage cash retention and provide additional benefits for employers affected by COVID-19:
    • Read an April 2020 report [PDF 949 KB] Employer-related liquidity—tax credits, deferrals, and efficiencies (COVID-19) 
    • Read a March 2020 report [PDF 151 KB] Compensation and benefits considerations in a troubled economy
       
  • A KPMG report provides, in table format, a summary of guidance from state and local jurisdictions with regard to extensions of time for filing returns and paying income, sales and/or other state taxes, or regarding penalty relief in light of COVID-19. This report is updated almost daily. Read the KPMG report [PDF 261 KB] last updated April 6, 2020.

  • Guidance from the U.S. Treasury Department and Small Business Association (SBA) concerns the “paycheck protection program” (PPP) that was established as part of “Coronavirus Aid, Relief, and Economic Security Act” (CARES Act) (Pub. L. No. 116-136). The start date for applications for PPP from organizations was April 3, 2020.  Note that PPP is only available to tax-exempt organizations described in section 501(c)(3) (charitable organizations) or section 501(c)(19) (veterans organizations) that have 500 or fewer employees. 

 

For more information, contact a tax professional with KPMG’s Washington National Tax practice:

Ruth Madrigal | +1 202 533 8817 | ruthmadrigal@kpmg.com

Preston Quesenberry | +1 202 533 3985 | pquesenberry@kpmg.com

The KPMG name and logo are trademarks used under license by the independent member firms of the KPMG global organization. KPMG International Limited is a private English company limited by guarantee and does not provide services to clients. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 4366, 1801 K Street NW, Washington, DC 20006.

Connect with us

 

Want to do business with KPMG?

 

loading image Request for proposal