Regulations that can be rescinded, modified or waived to assist taxpayers with economic recovery (COVID-19)
Regulations that can be rescinded, modified or waived
The U.S. Treasury Department and IRS today released for publication in the Federal Register a “request for comments” concerning regulations and other requirements that can be rescinded, modified or waived to assist business and individual taxpayers with their economic recovery from the coronavirus (COVID-19) pandemic.
Comments are due 45 days after this item is published in the Federal Register (which is scheduled for November 17, 2020).
This request for comments [PDF 200 KB] includes several examples of how the IRS has tried to provide relief (such as postponed deadlines for filing tax returns and making tax payments and extended deadlines
for other time sensitive acts) in response to the COVID-19 pandemic. Today’s release indicates that the IRS will continue to review all temporary actions taken in response to COVID-19 to determine whether certain actions would become permanent in order to promote economic recovery.
This release requests comments about additional measures that might assist those affected by the COVID-19 pandemic and that would further aid in the ongoing economic recovery from the pandemic.
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