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The decision, prompted by requests from a bipartisan group of lawmakers, reverses previous IRS guidance.
May 7
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The guidance says some deductions of estates and non-grantor trusts are not considered to be miscellaneous itemized deductions.
May 7
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House Speaker Nancy Pelosi dismissed President Donald Trump’s call for a payroll tax cut and changes in the capital gains tax, saying it wouldn’t help millions of unemployed workers and others struggling in an economy shut down by the pandemic.
May 7
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The service is looking for tax preparers to help the elderly and low-income taxpayers.
May 7
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Gave at the office; mortgage and mining; rotten to the corps; and other highlights of recent tax cases.
May 7
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The American Institute of CPAs’ Professional Ethics Executive Committee has decided to postpone the effective dates for three of its ethics interpretations in its Code of Professional Conduct for one year, due to the impact of the novel coronavirus pandemic.
May 7
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Financial executives are taking a two-phase approach to managing coronavirus issues that face their companies, according to a new survey.
May 7
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The postponed filing date gives taxpayers extra time to lower their tax burden with some last-minute strategies.
May 7
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It is no secret that many mergers and practice transfers never came to life because of fear.
May 7
Optimum Strategies -
The Internal Revenue Service said individuals who got a $1,200 stimulus payment intended for someone who’s deceased or incarcerated should return the money but left open the question of how the agency would enforce that.
May 7
