Treasury Department

The U.S. Treasury Department is planning to instruct people whose deceased relatives received coronavirus stimulus payments to return the money to the federal government, according to a department spokesman.

Treasury Secretary Steven Mnuchin says the additional funding Congress approved Thursday to help small businesses survive the coronavirus pandemic should be the last round, but advocates fear it’ll run out quickly and won’t be enough for mom-and-pop shops struggling to stay open.

While the new stimulus package provides much-needed additional funding for the Paycheck Protection Program, it made no significant changes to the process of qualifying for a loan.

Democrats on the tax-writing House Ways and Means Committee have sent a letter to Treasury Secretary Steven Mnuchin asking what has happened with the delayed economic impact payments.

The Internal Revenue Service and the Treasury Department provided cross-border tax guidance Tuesday to provide relief to individuals and businesses affected by travel disruptions arising from the novel coronavirus pandemic.

Recipients of Social Security benefits, as well as railroad retirement and veterans benefits recipients, will need to act fast.

The Treasury Department and the Internal Revenue Service are partnering with the U.S. Department of Veterans Affairs to deliver economic impact payments automatically to veterans and their beneficiaries, without filling out extra forms, in response to the COVID-19 pandemic.

People who receive Supplemental Security Income will automatically get economic impact payments from the federal government in response to the novel coronavirus pandemic.

The Treasury Department has created a web-based portal through which state, local and tribal governments will be able to access payments to help offset the costs of the novel coronavirus pandemic.

Americans will start to receive stimulus payments this week, a centerpiece of the $2.2 trillion rescue package meant to provide a buffer against the coronavirus pandemic that’s shuttered much of the U.S. economy.

The American Institute of CPAs has posted a set of frequently asked questions and answers aimed at helping CPAs and their clients with tax filing and tax relief in response to the novel coronavirus pandemic, while pointing out the various shortcomings in the federal government’s response.

This is normally the time of year when the federal government is collecting taxes due, but the devastating coronavirus now has the U.S. trying to rapidly dole out hundreds of billions of dollars in aid and tax breaks to businesses large and small.

Some people counting on $1,200 stimulus checks from the government may not see the money until mid-September, according to a House Ways and Means Committee analysis.

The Internal Revenue Service and the Treasury Department have reversed course on requiring senior citizens to file a “simple tax return” in order to receive a stimulus payment as part of the coronavirus package passed by Congress last week.

Federal agencies are increasingly sending incorrect benefit payments to Americans, a government watchdog said as the Internal Revenue Service prepares to send more than $292 billion in direct payments to households as part of the government’s coronavirus response.

The Treasury Department is pushing back the tax payment due dates for wine, beer, distilled spirits, tobacco products, firearms and ammunition excise taxes to offer them more flexibility for businesses that have been negatively affected by the coronavirus pandemic.

The world’s largest payment companies are fighting for their own piece of the U.S. coronavirus stimulus: an assignment to help distribute some of the relief money that will be sent to millions of Americans in the coming weeks.

One possible move is getting rid of the limit on state and local tax deductions, or SALT, that was part of the 2017 tax overhaul.

The American Institute of CPAs wants the Internal Revenue Service and the Treasury Department to give taxpayers more tax filing and payment relief during the COVID-19 pandemic.

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.