Tax

House Democrats on Monday released the first draft text for key pieces of legislation that will comprise President Joe Biden’s COVID-19 relief bill.

House Democrats are proposing to limit the next round of COVID-19 relief payments to households earning less than $200,000, after criticism that President Joe Biden’s $1.9 trillion stimulus package would benefit the rich.

A collection of things practitioners already hate about dealing with their clients this season.

The Internal Revenue Service mistakenly sent letters to many taxpayers saying it would be reducing their Economic Impact Payments to pay off the taxes they owed.

The combined average sales tax rate across the country grew to levels not seen in a decade last year, enabling states to collect more tax revenue from online sales.

The Form 7202 helps SE individuals who couldn’t work because of the coronavirus.

Your clients may have heard conflicting advice — they must change their IRA beneficiaries, spend down their IRA as soon as possible, dismantle their trust, or immediately convert their traditional IRA to a Roth IRA, Sophia Duffy writes.

The Internal Revenue Service issued guidance on how educators can deduct out-of-pocket expenses for personal protective equipment to safeguard teachers in the classroom during the pandemic.

Knowing what is required and completing documentation in a timely fashion maximize the company’s opportunity to receive its incentive reward.

The Senate voted 51-50, after Vice President Kamala Harris broke her first tie, to adopt a budget blueprint for President Joe Biden’s $1.9 trillion virus relief package — following nearly 15 hours of wading through amendments from both parties.