Person Root Tag

What we did yesterday is no longer relevant during the coronavirus pandemic, and we need to adapt and quickly. Here are some issues to consider.

Republicans and Democrats in the Senate have released separate sets of tax proposals aimed at alleviating the effects of the coronavirus pandemic, in contrast to the two bipartisan bills that have been signed into law already.

U.S. District Judge Trevor McFadden in Washington issued a stay on the tax case Friday — the second in two months — to wait for a full federal appeals court.

Tax forms and payments won’t be due to the Internal Revenue Service until July 15 this year, Treasury Secretary Steven Mnuchin said in a tweet, as the government looks for ways to respond to the coronavirus.

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.

A centerpiece of the package is tax rebates to individuals of $1,200 and $2,400 for married couples. Rebates are completely phased-out for taxpayers with incomes exceeding $99,000 for individuals or $198,000 for a couple.

The group says the Treasury’s actions so far don’t reflect the difficulties taxpayers and tax professionals are facing.

U.S. Treasury Secretary Steven Mnuchin said he supports direct payments of $1,000 per adult and $500 per child to Americans within three weeks if Congress backs the plan.

The relief is only for income taxes, and doesn't change any filing deadlines.

The Treasury is still encouraging taxpayers to file by April 15

Treasury Secretary Steven Mnuchin announced that his department is pushing back the April 15 tax filing deadline, giving individuals and many businesses 90 extra days to pay taxes they owe.

The administration is also planning $1,000+ stimulus checks.

The Treasury Secretary is expected to seek a third round of coronavirus-related economic stimulus, including postponing the due date for quarterly tax payments.

The U.S. Chamber of Commerce called Monday for a three-month cancellation of all payroll taxes paid by employers to address “a sudden and sharp drop in demand” facing businesses due to the coronavirus pandemic.

When a client has a problem or wants something from you, he or she needs your attention. Are you as responsive as you need to be?

The U.S. Treasury will be able to support smaller businesses impacted by the coronavirus through an economic relief plan that the House passed late Friday, Treasury Secretary Steven Mnuchin said in a statement.

The National Society of Accountants, NCCPAP and the AICPA are asking the IRS and Treasury for tax relief during the pandemic.

The Securities and Exchange Commission is exempting filers with less than $100 million in revenue from the requirement for an attestation of their ICFR by an outside auditor.

The board's ASU offers temporary optional guidance to help with the accounting for reference rate reform.

The president said he would allow individuals and businesses to “defer tax payments without interest or penalties” and he urged Congress to cut payroll taxes.