The latest round of coronavirus stimulus legislation includes some major tax provisions and changes for accountants to watch out for in the New Year.
With a CARES Act fix stalled along with stimulus legislation, the institute is urging CPAs to put pressure on their representatives.
Accountants play a critical role in helping clients get relief.
Two Senate Democrats are criticizing a little-known provision of the CARES Act stimulus package that would provide a tax break mostly to wealthy taxpayers, suspending excess business losses for prior tax years.
It is important to look at cost segregation and what it can do for a taxpayer.
The U.S. government’s $2.2 trillion stimulus package comes with a perk for high fliers: Flights are getting cheaper for some private-jet customers.
This is normally the time of year when the federal government is collecting taxes due, but the devastating coronavirus now has the U.S. trying to rapidly dole out hundreds of billions of dollars in aid and tax breaks to businesses large and small.
The measure contains tax relief for both businesses and individuals, and other stimulus measures.
Republicans and Democrats in the Senate have released separate sets of tax proposals aimed at alleviating the effects of the coronavirus pandemic, in contrast to the two bipartisan bills that have been signed into law already.
One strategy being used across international regions is to utilize value-added tax measures as a flexible and effective response to the economic slowdown.