Tax

Tax forms and payments won’t be due to the Internal Revenue Service until July 15 this year, Treasury Secretary Steven Mnuchin said in a tweet, as the government looks for ways to respond to the coronavirus.

Treasury Secretary Steven Mnuchin tweeted Friday that President Trump has directed him to move Tax Day to July 15, giving taxpayers more time to file their taxes in the midst of the coronavirus pandemic.

Some common planning techniques have emerged to maintain favorable IP tax rates.

Dying to steal; just getting behind; apple and the tree; and other highlights of recent tax cases.

A centerpiece of the package is tax rebates to individuals of $1,200 and $2,400 for married couples. Rebates are completely phased-out for taxpayers with incomes exceeding $99,000 for individuals or $198,000 for a couple.

A package of coronavirus relief legislation that was signed into law Wednesday includes provisions for paid sick leave, family leave and medical leave, along with tax credits to help employers and the self-employed pay for them.

Bipartisan legislation would extend the deadline after guidance from the Treasury Department fell short.

The group says the Treasury’s actions so far don’t reflect the difficulties taxpayers and tax professionals are facing.

U.S. Treasury Secretary Steven Mnuchin said he supports direct payments of $1,000 per adult and $500 per child to Americans within three weeks if Congress backs the plan.

The IRS cautioned tax professionals about a new version of a phishing email scam targeting them.