March 17, 2020

US Postpones April 15 Tax Deadline By 90 Days

In news that will delight millions of Americans – at least those who end up owing Uncle Sam a tax bill instead of getting a refund – the US government will postpone the April 15 tax-payment deadline for tens of millions of taxpayers by 90 days, giving Americans roughly 3 months pay their 2019 income-tax bills in an unprecedented move.

The IRS, under the authority of President Trump’s national-emergency declaration, will waive interest and penalties as well, Treasury Secretary Steven Mnuchin said at the White House Tuesday. The delay will be available to people who owe $1 million or less and corporations that owe $10 million or less.

The extension was granted to give taxpayers a financial cushion as households and businesses cope with the sudden crash in economic activity caused by the coronavirus outbreak which has brought the US economy to a halt. The move could provide households with hundreds of billions of dollars in temporary liquidity, Mnuchin said last week in previewing the government’s actions.

“We are going to use all the tools we have,” Mr. Mnuchin said on Tuesday. “And what tools we don’t have, we’re going to go to Congress.”

Meanwhile, those who are owed money from Uncle Sam will get it as the IRS will continue to process tax refunds, and Mnuchin urged people who can file their tax returns to do so. Many taxpayers who expect refunds file soon after the IRS opens filing in late January. That is particularly true for low-income households that benefit from the earned-income tax credit, which gives them cash.

About three-quarters of households typically receive refunds, and the IRS will still process returns and send out cash. However, people who file closer to the deadline typically owe money and are waiting to pay. They will benefit the most from Tuesday’s announcement, as will businesses that are worried about their cash flow.

While Mnuchin said last week that the tax deadline would be delayed for all but the superrich, his Tuesday announcement was the first explanation of the length of the delay and how it might work. The tax agency hasn’t yet released full details about how the delay will work.

According to official IRS data, as of March 6, the IRS had received 68 million individual income-tax returns, and since this is less than half of the returns that the IRS normally gets, it means that tens of millions of people can benefit from the relaxed deadlines.

Even if the IRS wanted to process all the tax filings it wouldn’t be able to do so: the tax agency adjusted its own operations during the outbreak, shifting many employees to remote work, according to a message that Commissioner Charles Rettig sent to workers late Friday. In addition, Rettig limited travel, gave employees the option of avoiding face-to-face contacts with taxpayers and stopped those in-person contacts in heavily affected areas such as New York and Seattle.

https://www.zerohedge.com/markets/us-postpones-april-15-tax-deadline-90-days

March 16, 2020

Foam Expo Rescheduled

Foam Expo 2020 and all co-located events rescheduled due to Covid-19 (Coronavirus)

New dates announced: August 25 – 27 2020

The wellbeing of our exhibitors, visitors, speakers, staff members and contractors is of paramount importance to the Foam Expo 2020 organisers (Smarter Shows Tarsus Ltd), alongside a commitment to delivering successful event experiences that meet the business objectives of our exhibitors and visitors.

Having closely monitored recent developments around the spread of COVID-19 (Coronavirus), and listened to feedback from across the industry, we have decided to postpone Foam Expo 2020, now we have secured our preferred alternative dates in late Summer.

While this is not a decision that has been taken lightly, we feel that it is the right one – not just for the wellbeing of people attending the event, but also for the technical foam industry. Foam Expo is the established principle meeting place for professionals across the technical foam supply chain and we believe the decision to postpone is in the best interests of all participants. With our new dates in place, we are confident that Foam Expo 2020 will continue to be accessible to professionals throughout the supply chain, giving the industry a platform to connect, do business, and collectively identify solutions to the challenges facing the industry.

‘ATP fully understands and supports the decision Smarter Shows Tarsus Ltd has made, and we look forward to presenting at the rescheduled show in late August’ – Richard Simpson, Division Leader, ATP Adhesive Systems AG

‘3M fully support the postponement of Foam Expo and Adhesives & Bonding Expo to the summer months and anticipate a great show this August’ – Noah Thacker, Content Management Specialist, 3M

‘Whilst we’re disappointed that the event isn’t taking place in March, as we had originally planned, our new dates in late August enable us to now fully focus on delivering a successful 2020 edition of the show. We appreciate the support received from our key event partners around the decision to postpone, and we’re anticipating a hugely successful 2020 edition of Foam Expo, alongside our new colocation partner Adhesives and Bonding Expo, when it takes place in late August’ – Jamie Reid, Event Director, Foam Expo 2020

We are in ongoing communication with our exhibitors, speakers, partners and suppliers. Those we have managed to speak to thus far have been extremely supportive. If you’d like to get in touch with the Foam Expo team, please contact us at info@foam-expo.com

Thank you for your understanding and support and we look forward to welcoming you to Novi, MI, in August 2020.

http://www.foam-expo.com/information/foam-expo-2020-new-dates-announced-august-25-27-2020