Tax relief

Republicans and the White House are counting on Senate Majority Leader Mitch McConnell reconciling GOP differences with a draft coronavirus relief package that they can take into negotiations with congressional Democrats.

The Tax Cuts and Jobs Act created opportunity zones as an economic development tool to stimulate investments in distressed communities.

IRS Commissioner Chuck Rettig expressed his appreciation to tax professionals Tuesday for their cooperation during the extended tax season that was prolonged by the novel coronavirus pandemic and pledged to deliver any future stimulus payments approved by Congress.

The American Institute of CPAs offered six policy suggestions for the next phase of federal COVID-19 relief legislation under consideration in Congress.

The Internal Revenue Service said Wednesday it has begun to send letters to taxpayers who are seeing delays in the processing of their Form 7200, Advance Payment of Employer Credits Due to COVID-19.

The Internal Revenue Service and the Treasury Department provided guidance to employers requiring them to report the amount of qualified sick and family leave wages they have paid to their employees under the Families First Coronavirus Response Act on Form W-2.

The service reminded taxpayers they will need to resume paying their taxes on July 15, but the AICPA is asking for further relief, as an inspector general report sheds light on the unprecedented filing season.

The Internal Revenue Service is extending timelines for performing some of the actions associated with the low-income housing tax credit and bonds for qualified residential rental projects to give businesses more time during the COVID-19 pandemic.

The extension also applies to Americans living abroad who would otherwise generally have had a filing deadline of June 15.

The IRS offers tax relief for those affected by storms and flooding in the Southeast.

The Internal Revenue Service provided guidance on expanded eligibility and more.

The IRS and the Treasury gave tax relief to businesses and investors who were engaged in New Markets Tax Credit transactions but couldn’t get them done in time due to the COVID-19 pandemic.

The Internal Revenue Service is giving investors in opportunity zone funds relief from some of the requirements in the controversial program because of the COVID-19 pandemic.

In response to the coronavirus, the Internal Revenue Service and the Treasury are giving renewable energy companies more time to develop projects using sources such as wind and geothermal.

A bipartisan group of lawmakers has introduced legislation to close a loophole in the CARES Act.

Republicans universally rejected a $3 trillion stimulus measure drafted by House Democrats to bolster the U.S. economy, but the draft plan has the seeds for an eventual, smaller compromise.

The IRS is extending the claims period for health care flexible spending arrangements and dependent care assistance programs and enabling taxpayers to make mid-year changes to their accounts.

A timely reminder that not all tax rules have been suspended.

The Internal Revenue Service and the Treasury Department provided cross-border tax guidance Tuesday to provide relief to individuals and businesses affected by travel disruptions arising from the novel coronavirus pandemic.

The Internal Revenue Service announced new tool Get My Payment, enabling taxpayers to check on their Economic Impact Payment date and update direct deposit information.