CARES Act

Requiring so little from applicants and giving so little guidance to them is virtually begging for fraudulent loan applications to be submitted or for good faith errors to be made.

Domestic and international; contractors and nonprofits; IRS big-debt help; and other highlights from our favorite tax bloggers.

The Trump administration said it’s recovered almost 70 percent of $1.6 billion in relief payments mistakenly sent to dead people.

The IRS is reminding taxpayers about the CARES Act’s waiver of required minimum distributions for 2020.

The Internal Revenue Service plans to correct penalties mistakenly levied on employers who reduced their tax deposits because they expected to claim some of the new tax credits to which they’re entitled.

The Internal Revenue Service has released a draft version of the Form 1040 for tax year 2020 with several significant changes probably in store for next tax season.

The Internal Revenue Service is giving parents another chance to list their kids so they can receive an extra $500 per child in economic impact payments under the CARES Act.

The limitation on net operating losses under the 2017 tax reform were mostly reversed in the stimulus package in March, but there are some complexities to keep in mind.

The U.S. Small Business Administration has posted rules about how businesses who have been turned down for forgiveness of their Paycheck Protection Program loans can appeal the decision.

One tax expert says the IRS proposals run contrary to the intent of the laws they’re supposed to be implementing.

Among the pandemic-related issues covered are how to handle the Paycheck Protection Program and other stimulus efforts.

The American Institute of CPAs joined with more than 170 organizations in asking congressional leaders to allow businesses to write off expenses associated with loan forgiveness under the Paycheck Protection Program.

The TAS will be able to assist taxpayers with certain EIP-related issues.

Time is running out for further relief efforts before the August recess.

In a letter to leading legislators, the group also urged them to make businesses expenses paid with PPP money deductible.

The Internal Revenue Service moved to ease the tax burdens of private equity portfolio companies and heavily indebted industries.

The service released the final regulations and other guidance on the deduction, which was amended by the CARES Act.

Making partners bill; more distribution guidance; NATP winners; and other highlights from our favorite tax bloggers.

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

The economic stimulus plan released by Senate Republicans offers no new money for states and cities to cope with swelling budget shortfalls, leaving them to contend with a grave financial crisis that’s already forcing them to slash spending, furlough workers and delay projects as tax revenue disappears.