The IRS unveiled new debt relief options on Monday for taxpayers still reeling from the coronavirus pandemic. Under the new system, taxpayers who still owe money to the government will receive expanded choices for making payments and alternatives to resolve the balances owed. STILL HAVEN'...
Clarification of Relief for HDHPs Finally, Notice 2020-29 clarifies that the relief theIRS issued in March, as well as relief provided in Section 3701 of theCoronavirus Aid, Relief, and Economic Security Act(the CARES Act), to allow HDHPs to cover COVID-19 testi...
The IRS has provided payment and filing relief to expatriates. Here is what you need to know. The Internal Revenue Service issued on April 9thNotice2020-23, which provides additional filing relief to taxpayers impacted by the coronavirus, including those working abroad. The filing deadline for i...
Coronavirus Aid, Relief, and Economic Security for Whom? IRS Overreaches in Denying CARES Act Economic Impact Payments to Migrant Workers and Incarcerated IndividualsColleen HenryVicki Lens
deduction is allowed under the Internal Revenue Code (Code) for any expense otherwise deductible to the extent that the payment of such expense results in loan forgiveness pursuant to the Paycheck Protection Program (PPP) established by the Coronavirus Aid, ...
So it’s a relief when a reputable, knowledgeable person can help you file. But what if you can’t afford a tax professional? The people who staff the thousands of Volunteer Income Tax Assistance and Tax Counseling for the Elderly sites across the United States could be your tax-filing ...
Congressional lawmakers remain at odds over whether to authorize funding for another round of stimulus payments. Senate Majority Leader Mitch McConnell said Tuesday that the Senate would vote on a "targeted"coronavirusrelief package this week, but the legislation does not provide money for a stimulus...
As a part of the Coronavirus tax relief, the IRS has extended the tax filing and payment deadline. In order to aid taxpayers, the tax filing deadline was extended. The IRS has stated that they are working with the Treasury and with Congress to help individuals during this time. ...
The IRS has been tasked with sending out direct cash payments to many American households that have been hit by measures taken by governments to stem the spread of coronavirus throughout the U.S. The payments, to the tune of $1,200, will be based on individuals' tax returns – and filer...
The IRS publishes an annual list of what it calls the “dirty dozen”—some of the most common tax scams currently circulating.2In 2021, for example, new scams emerged to take advantage of coronavirus tax relief and continued into 2022.3The IRS cautions taxpayers to be especially vigilant about...