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Economic Impact Payments for Social Security Recipients; The Internal Revenue Service (IRS) and the U.S. Department of the Treasury made an announcement regarding Economic Impact Payments for the recipients of Social Security in the United States. As per the announcement,…
Taxpayers With Net Operating Losses (NOLs); The Internal Revenue Service (IRS) issues guidance for those taxpayers who are claiming net operating losses due to Coronavirus (COVID-19) in USA. As per the details, Revenue Procedure 2020-24 (PDF) guidance provides details regarding coronavirus…
IRS Extends More Tax Deadlines For Individuals & Businesses; The Department of Treasury and the Internal Revenue Service (IRS) extend additional key tax deadlines for individuals and businesses throughout the United States. As per the details, Notice 2020-23 (PDF) is…
Employee Retention Credit; The Treasury Department and the Internal Revenue Service today launched the Employee Retention Credit in order to facilitate many businesses that are financially affected by the Coronavirus (COVID-19) pandemic hit in USA. The key objective of the…
Coronavirus Relief Economic Impact Payments; The Internal Revenue Service (IRS) and the U.S. Treasury Department announced today that distribution of economic impact payments will begin in the next three weeks. Along with the initiation of economic impact payments will be…
IRS People First Initiative for Coronavirus COVID-19 Relief; The Internal Revenue Service (IRS) is taking robust initiatives to help its taxpayers, employees as well as partners during the coronavirus outbreak nationwide. In the same regard, the IRS unveiled the new People…
Families First Coronavirus Response Act (FFCRA); The Treasury Department, Internal Revenue Service (IRS) and the U.S. Department of Labor (Labor) announced plan for the implementation of paid-leaves for employees & tax credits for small and mid-sized businesses in the United…
The coronavirus (COVID-19) pandemic alert; As CoronaVirus has hit the United States and presenting challenges for the taxpayers to file their income tax returns to the IRS. The federal income tax filing due date is extended from April 15, 2020,…
Tax Date Due To Coronavirus? The Internal Revenue Service (IRS) and Treasury Department made an announcement about the extension of tax filing deadline in the United States due to the coronavirus (COVID-19) pandemic. Now, the new extended deadline for filing…
IRS Announces Waivers; The Internal Revenue Service (IRS) made an announcement about the particular waivers for Offer in Compromise application in the United States, as per the final regulations, the Offer in Compromise application fee is increased to $205 that…