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April 7, 2020
2020 – 04/06
Wolff and Taylor
April 7, 2020
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Small Business
07 Apr
The IRS’s Small Business/Self-Employed (SB/SE) division has announced that it’s suspending some collection activities from March 30 through July 15 to provide relief to employers affected by the coronavirus (COVID-19). According to the IRS, its SB/SE employees should suspend most collection activities unless there’s a risk of permanent loss to the government due to the expiration of a statute or other “exigent circumstance,” or the taxpayer has agreed to a collection action. An exigent circumstance involves the loss of opportunity for the government to collect taxes due, such as the expiration of the statute of limitations.
