Tax relief

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.

The PPP gets most of the headlines, but the ERC helps businesses garner substantial tax savings. Can employers qualify for both programs?

Only 39 percent of employers with fewer than 500 employees are aware of the ERTC and only one in five business owners plans to claim the ERTC.

The Internal Revenue Service is suspending a requirement for taxpayers who received too much on their advance payments for the Premium Tax Credit last year to repay the excess amount.

Dixon Hughes Goodman wants the IRS to provide relief for businesses that are eligible for the 2020 ERC when the tax refunds haven’t yet been received.

The Internal Revenue Service is providing penalty relief for an employer’s failure to deposit employment taxes with the IRS on a timely basis.

Commissioner Charles Rettig left open the possibility that there may be delays.

The service offered information on how to elect to apply an overpayment on 2020 taxes against Q1 2021 estimated taxes, which are still due on April 15.

Rep. Lloyd Smucker's legislation is in line with a request from accounting and tax professional groups.

The Treasury and the IRS have sent out roughly 156 million payments to people, totaling roughly $372 billion.

The Internal Revenue Service is mailing letters to taxpayers explaining why they may not be getting as much of a Recovery Rebate Credit as they were expecting on their taxes.

The service intends to take steps to automatically refund money starting in May and continuing through the summer.

The service released a FAQ to explain how students and universities should report emergency financial aid grants related to the pandemic.

The Internal Revenue Service responded Tuesday to calls for extending more tax deadlines by giving taxpayers until May 17 to make IRA and HSA contributions and file some refund claims.