Treasury Department

The American Institute of CPAs has sent a letter to top officials asking for more guidance on the president's executive order.

Democrats in Congress are criticizing how millions of economic impact payments authorized under the CARES Act are being handled.

The Tax Cuts and Jobs Act created opportunity zones as an economic development tool to stimulate investments in distressed communities.

The final IRS and Treasury rules let taxpayers exclude certain income from their GILTI computation.

Italy and Spain also offered to limit the scope of a proposed global digital tax, a concession after the U.S. threatened to hit countries with tariffs if they moved ahead with levies on tech companies.

Treasury Secretary Steven Mnuchin said he may consider a second extension in the U.S. tax filing deadline as the coronavirus pandemic continues.

The Trump administration, following a backlash, said it would release details about companies that received loans of $150,000 or more from a coronavirus relief program for small businesses.

The Small Business Administration and the Treasury Department unveiled a simpler loan forgiveness application for the Paycheck Protection Program to reflect changes under the PPP Forgiveness Act.

The IRS and the Treasury gave tax relief to businesses and investors who were engaged in New Markets Tax Credit transactions but couldn’t get them done in time due to the COVID-19 pandemic.

The Internal Revenue Service won’t charge people who threw their stimulus money away because they thought the envelope was junk mail.

Senate Majority Leader Mitch McConnell will attempt to expedite approval of changes to the popular Paycheck Protection Program aimed at giving small businesses more flexibility in using the money from the fund, according to Senate aides.

The Treasury Department and the Small Business Administration released an interim final rule after posting the loan forgiveness application.

A bipartisan group of lawmakers has introduced legislation to close a loophole in the CARES Act.

The application from the Treasury leaves many questions unanswered.

The Internal Revenue Service and the Treasury Department are beginning to send nearly 4 million economic impact payments by prepaid debit card, instead of by paper check or direct deposit.

The U.S. Small Business Administration, in conjunction with the Treasury Department, released a loan forgiveness application for the SBA’s troubled Paycheck Protection Program, along with detailed instructions for the application.

Padgett Business Services’ Roger Harris suggests some exceptions for employers with fewer than 50 staff.

The decision, prompted by requests from a bipartisan group of lawmakers, reverses previous IRS guidance.

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.

Leaders of Congress’s tax-writing committees want employers to be able to continue providing health insurance to their furloughed employees and still qualify for tax credits.