Tax relief

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.

Americans will start to receive stimulus payments this week, a centerpiece of the $2.2 trillion rescue package meant to provide a buffer against the coronavirus pandemic that’s shuttered much of the U.S. economy.

The Internal Revenue Service introduced an online tool on its website to help people who don’t normally file their taxes receive their stimulus payments sooner in response to the novel coronavirus pandemic.

The Internal Revenue Service and the Treasury Department are extending a number of tax deadlines for individuals, trusts, estates, corporations and others due to the impact of the novel coronavirus.

The American Institute of CPAs has posted a set of frequently asked questions and answers aimed at helping CPAs and their clients with tax filing and tax relief in response to the novel coronavirus pandemic, while pointing out the various shortcomings in the federal government’s response.

The U.S. government’s $2.2 trillion stimulus package comes with a perk for high fliers: Flights are getting cheaper for some private-jet customers.

The Internal Revenue Service is postponing the date for filing gift tax and generation-skipping transfer tax returns and making payments until July 15 because of the novel coronavirus pandemic.

The measure contains tax relief for both businesses and individuals, and other stimulus measures.

The passage extends the IRA contribution deadline and waives RMDs for 2020. Here’s what else financial advisors need to know.