Coronavirus

Democrats on the House Ways and Means Committee are urging the Internal Revenue Service to extend tax season beyond April 15 to give taxpayers another three months until July 15.

New guidance shows how employees and employers can carry over unused money from flexible spending accounts and dependent care assistance programs.

The Internal Revenue Service is still dealing with a backlog of unprocessed mail from 2020, hurting its efforts to provide help with COVID-19 relief payments and this year’s tax season.

Paul Knopp, KPMG U.S. Chair and CEO, posted an internal message on LinkedIn reiterating the firm's condemnation of "discrimination, harassment or racism" against Asian-Americans during the COVID-19 pandemic.

Holders of donor-advised funds increased their disbursements last year in response to urgent demands for greater charitable contributions to cope with the COVID-19 pandemic.

CFOs and other finance executives are finding they need to reforecast their company’s liquidity and cash flow on a weekly and even daily basis as they cope with the pandemic.

The Biden administration is likely to dramatically change its approach to tax policy, with the first step in the stimulus package it began pushing through Congress this month.

The CPA Consultants Alliance held its annual meeting online to discuss challenges confronting the accounting profession from COVID-19 and elect a new slate of officers for this year.

Household employers have seen a rapid increase in labor law requirements, as well as state and municipal paid time off and paid sick leave ordinances.

The pandemic has yet to subside in any meaningful way, and that means a certain level of uncertainty remains across industries, including accounting.

KPMG’s U.K. chairman has resigned days after sparking widespread anger for telling employees to stop moaning about the pandemic.

The U.S. federal tax-filing season that begins Friday will be among the most consequential in recent history, as households face potential surprises — both negative and positive — sorting through pandemic-related measures at a time of high unemployment and depressed consumer confidence.

The House Ways and Means Committee advanced legislation that would infuse households with hundreds of billions of dollars of cash through direct payments and tax credits, a key plank of President Joe Biden’s COVID-19 relief package.

The Internal Revenue Service is girding for the official start of tax season as taxpayers and preparers deal with tax breaks related to COVID-19 and questions about stimulus payments.

Hopes among millions of upper-income and middle-class taxpayers for a repeal of the Trump administration’s limits on their federal deductions will likely be on hold for now, as an effort to include the measure in the COVID-19 aid package is poised to fail.

The U.S. Small Business Administration is taking steps to remove some of the hangups in the Paycheck Protection Program after complaints from the American Institute of CPAs and others.

A bipartisan group of Senate lawmakers has introduced legislation to make the Work Opportunity Tax Credit a permanent part of the Tax Code.

Public debates over immigration reform often suffer from scarce and erroneous information about the tax contributions of undocumented immigrants, particularly at the state level.

Lawmakers have introduced several measures that would expand the so-called child tax credit, which currently provides parents $2,000 per child annually.

House Democrats on Monday released the first draft text for key pieces of legislation that will comprise President Joe Biden’s COVID-19 relief bill.