Tax

The Internal Revenue Service has posted information on how people who weren’t supposed to receive their economic impact payments for the novel coronavirus pandemic should return the money.

The rule change is designed to have an impact in the fight against COVID-19 and applies only to donations made to charitable organizations, an expert says.

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

How will the relief package impact retirement accounts? CPA Ed Slott fields this and other top financial planning queries.

The majority of U.S. workers do not have enough savings to help them in the event of a medical emergency and often turn to their retirement funds for help.

Small businesses that manage to get their Paycheck Protection Program loans forgiven may find themselves losing valuable tax breaks, according to new guidance from the Internal Revenue Service.

There are appealing methods to shift investments “upstream” to aging parents or “downstream” to grown children.

While the Fed regularly updates taxpayer rolls with death certificate information, the IRS was relying on 2018 data to process the checks.

Despite the July 15 deadline extension as a result of the coronavirus, some taxpayers are advised to file early.

Find more information and the nomination form for Financial Planning's recognition of people, leaders and firms that have demonstrated innovation in response to the coronavirus pandemic.

Clients may consider rebalancing their portfolio more often to address asset allocation shifts as a result of the downturn.

Recipients of Social Security benefits, as well as railroad retirement and veterans benefits recipients, will need to act fast.

Gauging any possible changes to their health insurance coverage is just one consideration they must address before they retire.

A rule designed to prevent simple deduction abuses brings significant complexity to planning.

For starters, they can use the windfall to pay off debt, shore up their HSAs and build a cash reserve.

The IRS now says some unwanted RMDs can be undone, eliminating the tax bill

For one, clients will owe taxes still on the distributions, unless they recontribute the money into the account within three years.

Cash-strapped taxpayers may consider waiting until the new deadline to pay or to request a payment plan to buy more time to settle their tax bill.

Even as they still have to deal with tax season, the service is tasked with handling much of the stimulus packages.