Tax relief

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.

The American Institute of CPAs wants the Internal Revenue Service and the Treasury Department to give taxpayers more tax filing and payment relief during the COVID-19 pandemic.

The payments are one of the central provisions of the $2 trillion stimulus package awaiting a Senate vote.

Days of negotiations between the Trump administration and Congress — and fierce lobbying by industries eager for assistance dealing with the coronavirus outbreak — has yielded a rescue package worth more than $2 trillion in spending and tax breaks.

The Internal Revenue Service is giving foreign banks and financial institutions more time to file information about U.S. taxpayers with overseas bank accounts because of the coronavirus pandemic.

The Internal Revenue Service is taking a “sweeping series of steps” to help taxpayers during the coronavirus outbreak.

Treasury Secretary Steven Mnuchin says he wants direct payments to households to go out within three weeks of Congress passing a stimulus law, yet former IRS officials say those payments could take months to reach households.