Submitted by Michael Yarrow - Withum

On March 24, 2020, the IRS published a list of 24 questions and answers regarding Notice 2020-18, which it issued on March 20, 2020. We previously wrote an article summarizing that Notice.

The Q&As reiterate the information in the Notice, but they do provide additional color on the scope of the extension, and almost all of the new information is taxpayer-friendly. Below is the new information sorted by category, and please read the list carefully because some of the responses are not what practitioners had expected.

Click here to read the most current information from Withum.