Tax relief

The Internal Revenue Service has been extending tax relief to Americans affected by natural disasters like hurricanes and wildfires, but recent legislation could make it easier to qualify for federal tax relief.

An open letter last week expressed bipartisan opposition to proposals to retroactively end the credit before the end of the fourth quarter.

Farmers and ranchers may have another year to defer tax on gains from sales.

The Internal Revenue Service mailed out nearly 90,000 premature notices and demands for overdue taxes to taxpayers last year, even though the filing date had been extended.

Lawmakers proposed bipartisan legislation in the Senate to allow the Internal Revenue Service to postpone filing deadlines when a state-level disaster declaration is issued, rather than waiting for the federal government.

The service warned Thursday of an issue that’s affecting business taxpayers who need transcripts for requesting COVID-19 employment tax relief.

The IRS has moved a number of filing and payment deadlines.

The IRS is giving those affected by recent wildfires and floods extra time to file.

Fraud or improper payments accounted for more than $90 billion of the government’s emergency aid for the unemployed and small businesses.

America’s poorest families are using new child benefits in large measure to climb out of debt, much of it likely accumulated during the pandemic.