March 25th COVID-19 Update

Chamber President Todd Thomson Discusses Coronavirus Impact on Business on Newsradio 1620

Todd Thomson of the Greater Pensacola Chamber of Commerce joined the Pensacola Morning News to discuss the impact of the coronavirus has had on the local businesses in the greater Pensacola community. Numerous businesses, especially those in the hospitality industry, are being severely affected by the coronavirus, including hotels laying off over half of their employees.  Listen to the interview here.

 

Tax Filing Deadline Moved from April 15 to July 15

Treasury Secretary Steven Mnuchin announced on Friday morning that the filing deadline has been moved from April 15 to July 15 in order to give individuals and businesses more time to gather documents and file their returns without risk of penalties or interest.

The Treasury Secretary also encouraged taxpayers who expect a refund to go ahead and file in order to receive the refund.

 

IRS Gives Clarifying Guidance on Families First Coronavirus Response Act

On March 20, 2020, the IRS published guidance for implementation of the Families First Coronavirus Response Act and announced that employers can immediately begin taking advantage of the credits allowed under the Act.  A detailed analysis of the Act can be found here.

In response to the national emergency and to protect our employees, America’s taxpayers, communities and our partners, the IRS has temporarily closed all Taxpayer Assistance Centers and discontinued face-to-face service throughout the country until further notice. The IRS is continuing to process tax returns, issue refunds and help taxpayers to the greatest extent possible. Click here for more info on taxpayer assistance center closures.