CARES Act

The Internal Revenue Service's backlog is having an impact in many areas, including the handling of noncorporate applications for refund claims on net operating losses.

The agency issued billions of dollars in tax refunds to companies claiming net operating losses for prior years after passage of the CARES Act, but did little to examine the claims.

For anyone who wants a phony pay stub or doctored tax return, sources are readily available online.

The Internal Revenue Service updated its frequently asked questions page on higher education emergency grants for pandemic-related financial aid, with new information for students and educational institutions.

The Internal Revenue Service backlog is adding to long delays in processing carryback refunds of net operating losses claimed by companies during the pandemic.

The resources include articles and checklists that taxpayers and tax professionals can use to prepare for the new year.

The service is sending notices to taxpayers who deferred their Social Security taxes last year, reminding them that half the taxes will be due by the end of this year.

The Internal Revenue Service’s Taxpayer Advocate Service helped thousands of taxpayers last year with economic impact payments under the CARES Act, but it took months to start addressing them, often with the wrong cases.

Over 500 government entities improperly applied for advance payments of employer tax credits last year during the COVID-19 pandemic and needed to repay them, according to a new report.

Practitioners have plenty of time to advise clients on multiple savings opportunities.

The Employee Retention Tax Credit has been a welcome lifeline to many struggling businesses and those most significantly impacted by the economic uncertainty around the COVID-19 pandemic.

A dedicated address for Forms 9410-X would be a start, the company told the IRS.

Estimates suggest that the total of the net operating loss refunds may eventually top $25 billion.

With the passage of so much tax legislation over the past several years, there is tremendous opportunity for savings and planning.

10 major developments, from the pandemic and Wayfair to sin taxes, that are all likely to play major roles.

Mark Luscombe offers an in-depth look at the many tax angles of the American Rescue Plan.

The House Oversight and Reform Committee is probing whether executives at four drug industry companies plan to use a pandemic-related tax break to deduct opioid settlement payments.

The Internal Revenue Service released guidance Monday for employers claiming the employee retention credit for 2020 and how it relates to eligibility for the Paycheck Protection Program.

A COVID-wrecked economy has changed the calculus for some financial planners.

The Consolidated Appropriations Act includes a surprising number of tax provisions, many of which had not been widely publicized until the final bill was up for a vote.