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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.
April 22 -
Notice 2021-25 offers details on a provision of the COVID-19 relief package from last December that allows a temporarily larger deduction.
April 8 -
Yet another IRS change to tax rules amid the COVID pandemic is complicating tax-planning opportunities for financial advisors this filing season.
March 23 -
Collecting all unpaid income tax from the top 1% would boost revenue to the U.S. Treasury by $175 billion a year.
March 23 -
New guidance shows how employees and employers can carry over unused money from flexible spending accounts and dependent care assistance programs.
February 18 -
The Internal Revenue Service and the Treasury Department released guidance on claiming deductions for expenses associated with Paycheck Protection Program loans that have been forgiven.
January 6 -
The Internal Revenue Service is increasing many of the fees for requests for private letter rulings by 26.7 percent, starting Feb. 4.
January 4 -
The rules address the definition of real property, and how to handle personal property included in an exchange.
November 24 -
Whatever the outcome in November, taxpayers and their advisors should prepare for changes, an expert says.
October 6 -
While the contributions aren’t deductible, distributions such as earnings are tax-free to the designated beneficiary if they’re used to pay for qualified disability expenses.
October 5