IRS Issues Guidance on Relief for Taxpayers Affected by Ongoing Coronavirus Disease 2019 Pandemic
Excerpt from IRS Notice 2020-17: The Secretary has determined that any person with a Federal income tax payment due April 15, 2020, is affected by the COVID-19 emergency for purposes of the relief described in this section III (Affected Taxpayer). 

For an Affected Taxpayer, the due date for making Federal income tax payments due April 15, 2020, in an aggregate amount up to the Applicable Postponed Payment Amount, is postponed to July 15, 2020. The Applicable Postponed Payment Amount is up to $10,000,000 for each consolidated group (as defined in §1.1502-1) or for each C corporation that does not join in filing a consolidated return. For all other Affected Taxpayers, the Applicable Postponed Payment Amount is up to $1,000,000 regardless of filing status. For example, the Applicable Postponed Payment Amount is the same for a single individual and for married individuals filing a joint return. In both instances the Applicable Postponed Payment Amount is up to $1,000,000.

The relief provided in this section III is available solely with respect to Federal income tax payments (including payments of tax on self-employment income) due on April 15, 2020, in respect of an Affected Taxpayer’s 2019 taxable year, and Federal estimated income tax payments (including payments of tax on self-employment income) due on April 15, 2020, for an Affected Taxpayer’s 2020 taxable year. The Applicable Postponed Payment Amounts described in this section III include, in the aggregate, all payments described in the preceding sentence due on April 15, 2020 for such Affected Taxpayers.

No extension is provided in this notice for the payment or deposit of any other type of Federal tax, or for the filing of any tax return or information return.

COVID-19 Deadline Info & Memos
Office of Management and Budget Memorandum:
The OMB has issued a recent memorandum on Administrative Relief for Recipients and Applicants of Federal Financial Assistance Directly Impacted by the Novel Coronavirus (COVID-19) extending the single audit submission deadline for certain entities.
Office of the US Department of Education:
The Department of Education has issued a memorandum on Guidance for Interruption of Study Relating to Coronavirus (COVID-19) , relating to the Student Financial Assistance (SFA) program.
GACQ Alert:
The purpose of this GAQC Alert is to provide you with single audit related developments regarding the Novel Coronavirus (COVID-19). It covers important information on the above memos.
Monitoring COVID-19 IRS Tax Filing Guidance & NMTaxTalk:
If you missed yesterday's announcement, we encourage you to join the active discussions in the NMTaxTalk group. To join this group, email Larry Hess at for more information. Click here for the full announcement.
Free Resources & CPE
Coronavirus/COVID-19: Business Planning and Impacts
Thursday, March 19
11:00 am - 12:00 pm
1 CPE Credit

Join us on Thursday for this free webcast as we navigate the impacts of COVID-19 on businesses, including the challenge of protecting staff and customers, executing risk mitigation plans, and honoring commitments to their stakeholders.
Risky Business – Conducting Remote Audits in Uncertain Times
Monday, March 23
1:30 pm - 2:30 pm
1 CPE Credit

Attend this free webcast with industry experts as we review what the audit standards say about remote auditing. Learn about higher risk audit and accounting areas to focus on, and review best practices so you can still put your best foot forward, even if it's from home.