Tax credits

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.

The Internal Revenue Service released guidance Monday for employers claiming the employee retention credit for 2020 and how it relates to eligibility for the Paycheck Protection Program.

Experts have identified a dozen credits, deductions and more as worth particular attention this year.

Last month's COVID-19 relief bill has accountants recommending some deductions to clients, and wondering about the applicability of others.

The latest round of coronavirus stimulus legislation includes some major tax provisions and changes for accountants to watch out for in the New Year.

A group of 25 Democrats in the House wrote to congressional leaders asking them to provide $12.1 billion in funding for the Internal Revenue Service, including $5.2 billion for enforcement, with an eye toward cracking down on high-income tax cheats.

The legislation would encourage saving earlier by enrolling employees automatically in their company’s 401(k) plan, whenever a new plan is created.

Educating clients with startup businesses on the new regulations can help them provide for employees without breaking the bank.

There's a great deal of help for businesses in the CARES Act and the FFCRA.

Some tax credits are refundable, meaning they can get a refund in case the credits exceed their actual tax liability.

While they don't need a child to claim the earned income tax credit, the benefit's value increases based on the number of kids clients have.

Changing filing statuses and maxing out deductible contributions to IRAs and HSAs are some ways clients received bigger reimbursements.

The sandwich generation is struggling to save for its own needs, and when you add in family demands, it paints a "grim picture," an expert says.

Working parents who paid for day care, summer camp or a babysitter on the books are advised to take advantage of this break.

The uncertain tax and legislative environment means that year-end tax planning is more important than usual. To help clients and businesses prepare for filing season, here are helpful tips.

A quick look inside the proposed Tax Cuts and Jobs Act.

Donald Trump defends paying no federal income taxes on some of his returns from decades ago.