IRS

April 4, 2020 

The Department of the Treasury (Treasury) announced on April 1 that Social Security beneficiaries who are not typically required to file tax returns will not need to file an abbreviated tax return to receive an economic impact payment.

April 2, 2020 

The Internal Revenue Service is warning taxpayers to be on the lookout for a surge of calls and email phishing attempts about the Coronavirus, or COVID-19. These contacts can lead to tax-related fraud and identity theft.

March 30, 2020 

With these changes in mind, business leaders looking toward the remainder of 2020 should seek opportunities to make adjustments to their tax-related practices. The right adjustments might improve conditions both for employees and employers.

March 29, 2020 

This post summarizes the developments of the most massive stimulus bill in American history, the Coronavirus Aid, Relief, and Economic Security (CARES) Act. The CARES Act will provide billions of dollars of relief to individuals, businesses, state and ...

Randy Johnston

March 27, 2020 

The prospect of a long-term blow to the economy has prompted Trump to consider easing federal guidelines, despite warnings from governors, public health experts and some members of his own administration they should stay in place for longer.

March 27, 2020 

The standard check payment is $1,200 per individual or $2,400 for married couples who file a joint tax return. In addition, a family will be entitled to receive an extra $500 per child. For this purpose, a “child” is defined the same way as the term is us

March 27, 2020 

The standard check payment is $1,200 per individual or $2,400 for married couples who file a joint tax return. In addition, a family will be entitled to receive an extra $500 per child. For this purpose, a “child” is defined the same way as...

March 26, 2020 

To help people facing the challenges of COVID-19 issues, the Internal Revenue Service announced today a sweeping series of steps to assist taxpayers by providing relief on a variety of issues ranging from easing payment guidelines to postponing ...

March 26, 2020 

In an overwhelming bipartisan vote, the Senate on Wednesday passed a $2-trillion economic stimulus package — the largest ever — designed to pump money directly into Americans’ pockets while also shoring up hospitals, businesses and state and local ...

March 26, 2020 

Republicans and Democrats reached a hard-won agreement on the Senate’s $2 trillion worth of fiscal stimulus to shore up an economy crippled by the coronavirus pandemic. The final version was the product of intense negotiations between Senate Democratic leader Chuck Schumer and Treasury Secretary Steven Mnuchin. With the measure clearing the Senate, House Speaker Nancy...…

March 25, 2020 

We hope our last blog helped your organization consider its response to the current global health crisis. As the situation surrounding COVID-19 has progressed, more travel restrictions and social distancing practices are being implemented every day. More and more companies are implementing work-from-home policies to adapt to the changing situation. We’ve been tracking the data...…

March 25, 2020 

Specifically, the AICPA urges the Treasury Department and IRS to consider the following recommendations, which will provide relief to millions of individuals and businesses affected by a broad array of coronavirus-related issues: