Tax

Some people counting on $1,200 stimulus checks from the government may not see the money until mid-September, according to a House Ways and Means Committee analysis.

Over the Topps; a thirst for fraud; the sky is limited; and other highlights of recent tax cases.

The Internal Revenue Service issued a warning urging taxpayers to beware of scammers calling and emailing them about the stimulus payments they are expecting as a result of last week’s CARES Act.

Ask the average business owner if they have a tax shelter and they’d probably have a chuckle while wistfully thinking about how nice it would be to swim in crystal clear waters while their offshore bank accounts grew, unencumbered by state and federal taxes.

The Internal Revenue Service and the Treasury Department have reversed course on requiring senior citizens to file a “simple tax return” in order to receive a stimulus payment as part of the coronavirus package passed by Congress last week.

The TAP also just welcomed 33 new members.

Federal agencies are increasingly sending incorrect benefit payments to Americans, a government watchdog said as the Internal Revenue Service prepares to send more than $292 billion in direct payments to households as part of the government’s coronavirus response.

Some of the most contested pieces of the 2017 tax overhaul are being revisited as the White House and Congress begin to discuss another round of economic stimulus, including restoring the break for entertaining business clients and lifting the cap on state and local deductions.

During these unprecedented times, here are some tips for navigating your team through one of the most tumultuous tax seasons it has ever seen.

The Treasury Department is pushing back the tax payment due dates for wine, beer, distilled spirits, tobacco products, firearms and ammunition excise taxes to offer them more flexibility for businesses that have been negatively affected by the coronavirus pandemic.