Tax relief

The extension also applies to Americans living abroad who would otherwise generally have had a filing deadline of June 15.

The IRS is extending the claims period for health care flexible spending arrangements and dependent care assistance programs and enabling taxpayers to make mid-year changes to their accounts.

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.

The passage extends the IRA contribution deadline and waives RMDs for 2020. Here’s what else financial advisors need to know.

The Treasury and IRS are lowering the withholding underpayment threshold to 80%.

What are the best strategies for clients looking to tap assets while minimizing penalties?