Tax

Time is running out for further relief efforts before the August recess.

In a letter to leading legislators, the group also urged them to make businesses expenses paid with PPP money deductible.

The Internal Revenue Service moved to ease the tax burdens of private equity portfolio companies and heavily indebted industries.

The service released the final regulations and other guidance on the deduction, which was amended by the CARES Act.

Making partners bill; more distribution guidance; NATP winners; and other highlights from our favorite tax bloggers.

Democrats in Congress are criticizing how millions of economic impact payments authorized under the CARES Act are being handled.

Here are some lessons learned from the 2018 tax year compliance season.

The GOP legislation includes a second tranche of stimulus payments, structured the same way as the earlier round, in March, along with tax credits for businesses.

Senate Republicans presented a series of bills that would trim unemployment benefits, send $1,200 to most Americans, and shield businesses, schools and other organizations from coronavirus lawsuits.

President Donald Trump renewed his fight to prevent a New York grand jury from reviewing his tax filings, after the U.S. Supreme Court ruled he doesn’t have absolute immunity from state criminal investigations.