The Coronavirus Aid, Relief, and Economic Security (CARES) Act and the Families First Coronavirus Response Act both provide potential relief for nonprofit associations.
We are still awaiting important details on the many provisions of the Acts, but we wanted to provide a summary of some of the programs which will be of interest to our Union clients. We will update this bulletin as additional information becomes available.
The Treasury Department and the Internal Revenue Service has provided
special tax filing and payment relief to individuals and businesses in response
to the COVID-19 Outbreak, by extending the 2019 tax filing deadline from April
15, 2020 to July 15, 2020. Please see our bulletin below for more information:
Today, the Office of Labor-Management Standards (OLMS) published a final rule establishing a Form T–1 Trust Annual Report which requires annual reporting by Form LM-2 filing labor organizations on financial information pertinent to “trusts in which a labor organization is interested”.