The Internal Revenue Service is postponing the date for filing gift tax and generation-skipping transfer tax returns and making payments until July 15 because of the novel coronavirus pandemic.
President Donald Trump said he wants to restore corporate tax deductions for business meals as restaurants reel from the impact of the coronavirus outbreak.
The measure contains tax relief for both businesses and individuals, and other stimulus measures.
Republican staff on the Senate Finance Committee have released a set of answers to frequently asked questions about the stimulus payments.
The Internal Revenue Service is shutting down its Practitioner Priority Service line, e-Services Help Desk, as well as the e-Services FIRE and AIR system help desks, until further notice, due to staff limitations amid the pandemic.
Can a home equity line of credit offer clients a bridge loan for troubled times? Says one, “I’m going to call those people and rehire them.”
The passage extends the IRA contribution deadline and waives RMDs for 2020. Here’s what else financial advisors need to know.
The American Institute of CPAs wants the Internal Revenue Service and the Treasury Department to give taxpayers more tax filing and payment relief during the COVID-19 pandemic.
The Senate voted 96-0 late Wednesday to approve a sweeping $2.2 trillion stimulus package to help the nation emerge from the coronavirus pandemic.
Large retailers like Walmart Inc. and Target Corp., as well as student loan borrowers, are on a long list of potential winners from tax breaks included in a $2 trillion coronavirus relief bill approved by the Senate.