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.

House Democrats are proposing to limit the next round of COVID-19 relief payments to households earning less than $200,000, after criticism that President Joe Biden’s $1.9 trillion stimulus package would benefit the rich.

Embattled Chinese coffee chain Luckin Coffee Inc. filed for Chapter 15 bankruptcy in New York, less than a year after the company said that more than a quarter’s worth of business may have been faked.

The Internal Revenue Service issued guidance on how educators can deduct out-of-pocket expenses for personal protective equipment to safeguard teachers in the classroom during the pandemic.

The Senate voted 51-50, after Vice President Kamala Harris broke her first tie, to adopt a budget blueprint for President Joe Biden’s $1.9 trillion virus relief package — following nearly 15 hours of wading through amendments from both parties.

Democrats’ go-it-alone stimulus plan faces night of GOP sniping

The American Institute of CPAs is asking the Small Business Administration to fix some problems that businesses are encountering when applying for loans from the Paycheck Protection Program.

Tax professionals rate which of the president’s proposals they expect to see him pursue.

Accounting Today’s editors pick the best new and most improved tools and resources for accountants from the past 12 months.

Senator Elizabeth Warren will join the Finance Committee, an A-list Senate panel that oversees tax, trade and health care legislation, according to a person familiar with the assignment.

Democrats are pushing a tax cut that would benefit individuals who lost their jobs in 2020 and may be in for a surprise tax bill this spring.

Hiring and wages at small businesses ticked upward slightly last month despite the ongoing economic fallout from the COVID-19 pandemic.

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.

From the delayed stat to a rush of new legislation and an overloaded IRS, a host of issues are combining to make tax filing even more difficult than usual.

Our panel of experts have identified these 12 credits, deductions and more as worth particular attention this year.

As a fresh round of federal relief loans is getting distributed to U.S. small firms hit by a pandemic crisis that will soon stretch to a year, new research shows that last year’s tranches of the Paycheck Protection Program covered less than a month of business expenses.

Small businesses in Nebraska, Oklahoma and other rural states have been the most successful at getting federal pandemic relief in the $284 billion round of aid that opened this month, buoyed by a new rule that authorizes loans to many farms that didn’t qualify before.

Senators and House members introduced legislation to help taxpayers survive the pandemic, with tax credits for developers revitalizing homes in “distressed” neighborhoods and enabling small businesses to pay essential expenses.

The Financial Accounting Standards Board released an accounting standards update Thursday, giving franchisors a practical expedient way to determine their performance obligations under a franchise agreement.

Two New Jersey Democrats are leading an effort to expand a valuable tax break for state and local levies in the next virus-relief package, a long-shot effort as lawmakers continue to squabble over the size and scope of the next round of stimulus.