IRS Grants Relief for COVID-19 Disruptions on Tax Residency: Time Rules Are Eased for the Substantial Presence Test for Foreign Citizens in the US and the Foreign Earned Income Exclusion for US Citizens AbroadThe IRS provided relief to individuals and businesses whose tax residence might be ...
The IRS plans to notify 9 million Americans who may be eligible for a government stimulus check but who have yet to claim the relief payment. That mostly pertains to people who typically don't file a federal income tax return, the agency said Tuesday. They will have until October 15 to r...
Amid rising concerns about a flood of improper Employee Retention Credit claims, the Internal Revenue Service today announced an immediate moratorium through at least the end of the year on processing new claims for the...
While SETC (Self-Employed Tax Credit) and FFCRA (Families First Coronavirus Response Act) are both born from the same legislative umbrella aimed at providing COVID-19 relief, there's a neat distinction in their applicability: SETC: A Special Focus for the Self-Employed FFCRA: The Employee-Or...
The IRS has extended a number of COVID-19 relief measures for qualified opportunity funds and their investors. This relief is welcome news for many, and we’ll bring you up to speed quickly. READ NOW Related Content Qualified Opportunity Zones: Fundamentals ...
You can check your status on the IRS’s Get My Payment tool. President Joe Biden’s $1.9 trillion coronavirus relief package was approved earlier this month, triggering the third stimulus payment amid the ongoing pandemic to Americans. RELATED: Senate approves $1.9T COVID-19 r...
Second stimulus checks: Who’s eligible for payments and what the new COVID relief bill means for your money The COVID relief bill was further stalled at the end of December when President Donald Trumpdemanded a $2,000 direct paymentat the last minute. ...
The new stimulus checks for qualifying individuals based on income were included in the $1.9 trillion COVID-19 relief bill, which was signed on March 11. It also extended $300 weekly emergency unemployment benefits until September. The third batch of stimulus payments began proce...
2020 & 2021 Updates:with the CARES Act legislation providing a number offinancial COVID relief measures, those who itemized taxes could deduct up to 100% of adjusted gross income in 2020 and 2021 for cash contributions. If you give more than your AGI, the excess deduction amount can roll ov...
The IRS said Thursday that the agency has issued more than 4 million checks, totaling more than than $10 billion, in this third round of stimulus payments. The new stimulus checks for qualifying individuals based on income were included in the $1.9 trillion COVID-19 relief ...