The payments are one of the central provisions of the $2 trillion stimulus package awaiting a Senate vote.
The Internal Revenue Service is giving foreign banks and financial institutions more time to file information about U.S. taxpayers with overseas bank accounts because of the coronavirus pandemic.
The Internal Revenue Service is taking a “sweeping series of steps” to help taxpayers during the coronavirus outbreak.
Treasury Secretary Steven Mnuchin says he wants direct payments to households to go out within three weeks of Congress passing a stimulus law, yet former IRS officials say those payments could take months to reach households.
The Internal Revenue Service posted a frequently asked questions page about the recently announced delay in tax filing and payments until July 15 because of the novel coronavirus pandemic.
Coronavirus, postponed deadlines, stimulus bills and social distancing bring new levels of complexity to tax.
Two new refundable credits are aimed at immediately and fully reimbursing employers, dollar-for-dollar, for the cost of providing coronavirus-related leave to their employees.
Treasury Secretary Steven Mnuchin tweeted Friday that President Trump has directed him to move Tax Day to July 15, giving taxpayers more time to file their taxes in the midst of the coronavirus pandemic.
The National Society of Accountants, NCCPAP and the AICPA are asking the IRS and Treasury for tax relief during the pandemic.
Notice 2020-15 clarifies what Covid-19 expenses can be covered from HSAs.