Tax season

Roth conversions and backdoor Roths ease COVID financial pain for wealthy earners this tax season

Leaders of the House Ways and Means Committee and accounting groups are calling for extending the tax deadline to give the IRS, taxpayers and tax professionals an extra three months.

A powerful financial boost in the new pandemic bill combined with tax rules may result in a stimulus check windfall for some young adults.

A COVID-wrecked economy has changed the calculus for some financial planners.

The agency’s commissioner is upbeat, but tax preparers and financial planners worry that this year could be especially chaotic due to the COVID pandemic.

Some business owners can get hurt by workarounds to the $10,000 limit for state and local tax deductions.

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

Several significant changes are probably in store for next tax season.

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

The Internal Revenue Service is bringing in more help to deal with the flood of calls about economic impact payments.