The Financial Accounting Standards Board staff released a question-and-answer document to respond to questions about the lease accounting guidance for lease concessions in the wake of the novel coronavirus pandemic.

The International Accounting Standards Board proposed amendments to assist companies in providing useful information to investors about the effects of interest rate benchmark reform on financial statements.

Taxpayers who meet the requirements for investing in an opportunity zone can potentially take advantage of increased depreciation deductions through cost segregation, further decreasing their tax liability.

The Internal Revenue Service is including a question at the top of Schedule 1 of the Form 1040 this year asking taxpayers whether they received, sold, sent, exchanged or acquired a financial interest in virtual currency in 2019, but most taxpayers won’t have any record from a Form 1099 about their cryptocurrency transactions.

It is important to look at cost segregation and what it can do for a taxpayer.

The Governmental Accounting Standards Board is working on several fronts to offer relief to state and local governments and other stakeholders in the midst of the pandemic, including delaying the effective date of some standards.

The U.S. government’s $2.2 trillion stimulus package comes with a perk for high fliers: Flights are getting cheaper for some private-jet customers.

This is normally the time of year when the federal government is collecting taxes due, but the devastating coronavirus now has the U.S. trying to rapidly dole out hundreds of billions of dollars in aid and tax breaks to businesses large and small.

Ask the average business owner if they have a tax shelter and they’d probably have a chuckle while wistfully thinking about how nice it would be to swim in crystal clear waters while their offshore bank accounts grew, unencumbered by state and federal taxes.

Some of the most contested pieces of the 2017 tax overhaul are being revisited as the White House and Congress begin to discuss another round of economic stimulus, including restoring the break for entertaining business clients and lifting the cap on state and local deductions.

The Internal Revenue Service is postponing the date for filing gift tax and generation-skipping transfer tax returns and making payments until July 15 because of the novel coronavirus pandemic.

President Donald Trump said he wants to restore corporate tax deductions for business meals as restaurants reel from the impact of the coronavirus outbreak.

The measure contains tax relief for both businesses and individuals, and other stimulus measures.

Republican staff on the Senate Finance Committee have released a set of answers to frequently asked questions about the stimulus payments.

The $2.2 trillion package passed by the Senate includes a provision that would allow banks the temporary option to postpone compliance with the credit losses standard.

The Senate voted 96-0 late Wednesday to approve a sweeping $2.2 trillion stimulus package to help the nation emerge from the coronavirus pandemic.

Large retailers like Walmart Inc. and Target Corp., as well as student loan borrowers, are on a long list of potential winners from tax breaks included in a $2 trillion coronavirus relief bill approved by the Senate.

The payments are one of the central provisions of the $2 trillion stimulus package awaiting a Senate vote.

Days of negotiations between the Trump administration and Congress — and fierce lobbying by industries eager for assistance dealing with the coronavirus outbreak — has yielded a rescue package worth more than $2 trillion in spending and tax breaks.

The Commission is extending the filing periods covered under its previous reporting relief for companies due to the COV-19 pandemic.