Tax relief

The American Institute of CPAs has written a letter to the Internal Revenue Service requesting more flexibility for businesses that needed to get rid of extra inventory during the COVID-19 pandemic.

The Internal Revenue Service is giving employers more leeway in claiming the Work Opportunity Tax Credit to hire people in underprivileged areas who face significant obstacles to employment for jobs in summer youth and community programs.

The bipartisan infrastructure bill would end a tax break Congress crafted to help businesses struggling during the pandemic but relatively few companies have claimed.

The IRS and the Treasury started disbursing advance monthly payments Thursday of the expanded Child Tax Credit in a program that aims to lift millions of families out of poverty.

Democratic leaders want voters in key states to know which party is responsible for the checks Americans with young children are set to start receiving on Thursday.

The Internal Revenue Service is planning to host events this weekend in a dozen cities to help people who usually don’t file a tax return register for monthly Advance Child Tax Credit payments.

The guidance gives renewable energy companies more time to develop projects that were delayed by COVID-19.

The service released a Data Book Thursday highlighting its work this past fiscal year, particularly in response to the pandemic.

The Internal Revenue Service opened a portal to enable families to monitor and manage their monthly advance payments of the expanded Child Tax Credit.

The service has posted new procedures to explain how a change in tax law last year potentially affects the depreciation of residential rental property.

Clients could end up having to pay back the money next filing season.

The Internal Revenue Service and the Treasury Department introduced an online tool that enables families to register for monthly payments of the expanded Child Tax Credit.

Some in Washington have slammed states for what they consider kicking their own residents while they’re down — against the intent of Congress.

The Internal Revenue Service is sending letters to over 36 million families about how they may be able to qualify for monthly Child Tax Credit payments, beginning in July.

The Internal Revenue Service issued more than 4.4 million Economic Impact Payments last year totaling more than $5.5 billion to potentially ineligible people, according to a new report.

The Internal Revenue Service disbursed more than 1.8 million additional Economic Impact Payments totaling over $3.5 billion under the American Rescue Plan in the past two weeks.

The rescue package makes it easier for those who have lost their jobs to keep their health insurance.

The Internal Revenue Service is starting to provide tax refunds to taxpayers who paid taxes on their 2020 unemployment benefits that recent legislation later excluded from taxable income.

Ohio and Missouri judges deny injunctions because those states haven’t yet suffered any harm.

The Institute wants help for businesses facing foreign trade obstacles to maintaining inventory during the pandemic.