Tax relief

The U.S. Treasury Department is considering extending the 2019 tax-filing deadline beyond April 15 to provide relief from economic disruption caused by the coronavirus outbreak, according to two people familiar with the matter.

The Internal Revenue Service said it may provide relief from double taxation in some circumstances to corporations because of the repatriation tax under the Tax Cuts and Jobs Act.

The Internal Revenue Service and the Treasury Department are offering a safe harbor to provide relief to taxpayers who borrowed money to attend a nonprofit or for-profit school and had their student loan debts discharged.

The institute has asked the IRS and the Treasury to issue a notice clarifying that relief will also apply to S corporations.

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The Internal Revenue Service has granted relief in FEMA-designated areas.

Rev. Proc. 2019-40 will limit the inquiries some U.S. taxpayers have to face.

Some expatriates who have relinquished their U.S. citizenship will have the chance to comply with their U.S. tax and filing obligations and in turn qualify for relief from back taxes, penalties and interest.

With the storm threatening to hit the state of Florida after passing through parts of Puerto Rico and the Virgin Islands, the IRS sent a reminder Thursday.

The Internal Revenue Service is automatically waiving the estimated tax penalty for hundreds of thousands of eligible taxpayers.