Coronavirus

The Internal Revenue Service responded Tuesday to calls for extending more tax deadlines by giving taxpayers until May 17 to make IRA and HSA contributions and file some refund claims.

Small businesses are recording a significant jump in job growth this month, while weekly and hourly earnings grew as well, according to payroll giant Paychex.

The Internal Revenue Service plans to begin issuing Economic Impact Payments to Social Security recipients and other federal beneficiaries this weekend after weeks of delay.

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

Announcement 2021-7(1) lets taxpayers deduct money spent on masks, wipes and other supplies in certain circumstances.

Household employment has its share of nuances that may catch accountants and families off guard, cause noncompliance, and cost your clients money. Here are some of the typical tax season mistakes we see made by accountants and families and how to fix them.

The 2021 Q1 AICPA Economic Outlook Survey found that while the vast majority of accounting businesses plan no reduction in their office space over the next year, a growing number said they would reduce their space by at least 10 percent as a result of the pandemic.

The U.S. Senate approved a two-month extension of a popular U.S. small-business relief program that still has about $79 billion left to distribute, giving companies until the end of May to apply for the forgivable loans.

Many of the temporary tax provisions are expected to be included in President Biden’s next piece of tax legislation later in 2021.

The Internal Revenue Service has changed the calculation for determining the $10,200 exclusion on unemployment benefits in the new pandemic relief package, allowing more taxpayers to qualify, but forcing tax software developers to update their programs.

A group of House Democrats is sounding the alarm about delays in Economic Impact Payments going out to beneficiaries of safety net programs.

The COVID-19 pandemic could give remote employees around-the-clock access to company funds with little supervision and lead to embezzlement.

The Biden administration said in a response to concerns raised by Republicans that state governments accepting pandemic-relief money from Washington are allowed to cut taxes, but only if they don’t use the federal aid to offset those reductions.

Experts read the tea leaves in the American Rescue Plan and other early hints of the administration’s revenue proposals.

The IRS will automatically process refunds for individuals who paid taxes on their unemployment benefits before Congress passed a law making those payments tax-free, Commissioner Chuck Rettig said.

Richard Chambers has released a book on disruption as a new IIA report examines how the internal audit profession is coping with COVID-19.

Senate Democrats are sponsoring legislation to safeguard stimulus payments from debt collectors, while Republicans want states to be able to use funds from the new relief package for tax cuts.

When going back to basics, ask yourself what you would look for in a CPA if you were the client.

The Internal Revenue Service’s delay of the April 15 tax-filing deadline to May 17 gives taxpayers an additional month to file returns and pay any outstanding levies.

New ways of working may require states and other jurisdictions to take new approaches.