Coronavirus

The Internal Revenue Service is holding up millions of tax refunds for manual processing and its systems were unable to process many of the quarterly payments that needed to be sent by April 15.

The IRS and the Treasury Department are giving small businesses that received Paycheck Protection Program loans in the first round a way to deduct expenses they couldn’t claim last year.

The pandemic has ushered in an ultra-remote environment, complete with more video calls, more e-signing and, inevitably, more stress.

The Internal Revenue Service is suspending a requirement for taxpayers who received too much on their advance payments for the Premium Tax Credit last year to repay the excess amount.

Notice 2021-25 offers details on a provision of the COVID-19 relief package from last December that allows a temporarily larger deduction.

The majority of the latest payments went to Social Security recipients and beneficiaries.

Industry veterans are hoping that COVID brings about lasting change, while welcoming the return of some ancient finance traditions.

Virtual training and orientation, including any licensing needed, will begin in July.

The Internal Revenue Service responded Tuesday to calls for extending more tax deadlines by giving taxpayers until May 17 to make IRA and HSA contributions and file some refund claims.

Financial advisor Christian D’Urso spends his mornings hiking, kayaking or biking, and his afternoons running a $110 million advisory business on the water.

The Internal Revenue Service is pushing back the tax-filing deadline until May 17 after heavy pressure from Congress and tax and accounting groups.

For those with less than $150,000 in adjusted gross income who collected unemployment benefits this past year, the COVID relief bill allows them to receive up to $10,200 of those benefits tax-free.

Members of Congress are proposing bipartisan legislation to extend the deadline for Paycheck Protection Program loans another two months as accountants press for more time on the expiring program.

Denika Tokunaga of Maven Wealth Management answered FP’s queries about challenges, opportunities and growing during the coronavirus.

The legislation would rival the $2 trillion March 2020 CARES Act in size and scope and follow a $900 billion December relief package.

The largest banks have cut compensation or held it steady for their top executives. Many regionals, though not all, are expected to make similar decisions as boards balance the desire to reward strong leadership during the pandemic with lackluster financial performance and public relations concerns.

The bank had nearly 270,000 employees at the end of last year.

Some familiar names top the list for these investors who kept about 35% of their brokerage assets in equities.

The vaccine rollout may not be happening as fast as we’d like, but an end to the worst of the pandemic is on the horizon. Is your firm ready for it?

New guidance shows how employees and employers can carry over unused money from flexible spending accounts and dependent care assistance programs.