Tax relief

Senate Majority Leader Chuck Schumer said he’s ready to start moving on a Democrat-only COVID-19 relief plan as soon as next week if Republicans continue to reject President Joe Biden’s $1.9 trillion proposal.

The Treasury Department said Friday it plans to launch an all-out effort to deliver Economic Impact Payments to people who haven’t yet received the two rounds of stimulus payments that they should have received last year or this month.

The Internal Revenue Service released information on how employees now have until the end of the year to repay any payroll taxes they deferred from last year.

President-elect Joe Biden’s $1.9 trillion COVID-19 relief plan is designed to both pump money into the economy and contain the coronavirus pandemic.

President-elect Joe Biden’s $1.9 trillion economic relief proposal serves as the opening salvo in a legislative battle that could be prolonged by the go-big price tag and the inclusion of initiatives opposed by many Republicans.

President-elect Joe Biden will seek a deal with Republicans on another round of COVID-19 relief, rather than attempting to ram a package through without their support, according to two people familiar with the matter.

The Internal Revenue Service and the Treasury Department released guidance on claiming deductions for expenses associated with Paycheck Protection Program loans that have been forgiven.

Senate Majority Leader Mitch McConnell on Wednesday closed off chances that the Senate would pass anytime soon a House bill that would give most Americans $2,000 stimulus payments.

The initial direct deposits of the second round of economic impact payments are already going out to taxpayers.

House Republicans blocked Democrats’ attempt to meet President Donald Trump’s demand to pay most Americans $2,000 to help weather the coronavirus pandemic.