March 20, 2020
The federal income tax filing due date has been formally extended to July 15 as part of the Tax Relief Filing Act for America in response to COVID-19. This decision was made due to a bipartisan congressional effort to broaden relief from the previously announced payment extensions and penalty and interest relief.
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March 19, 2020
The U.S. Treasury Department and the IRS recently issued guidance allowing all individual and other non-corporate tax filers to defer up to $1 million in federal income tax payments normally due April 15, 2020 to July 15, 2020 without penalties or interest.
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March 16, 2020
The AICPA has been advocating for secure tax filing and payment relief due to the challenges surrounding the coronavirus (COVID-19) pandemic.
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March 12, 2020
The IRS has announced taxpayers in areas affected by the March 3 tornadoes in middle Tennessee will have until July 15, 2020 to file individual and business tax returns and make tax payments.
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March 11, 2020
The AICPA today called for the Treasury Department and the IRS to provide relief to all taxpayers in light of the uncertainty and challenges caused by the spread of the Coronavirus (COVID-19) pandemic.
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January 6, 2020
The IRS confirmed the nation’s tax season will start for individual tax return filers on Monday, Jan. 27, 2020, when the agency will begin accepting and processing 2019 tax year returns.
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January 2, 2020
The IRS recently issued the 2020 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes.
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December 20, 2019
Congress recently voted to approve a federal government spending bill that repeals three health care taxes, makes changes to retirement plan rules, extends expired tax provisions, provides disaster tax relief and repeals a provision for tax-exempt organizations.
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November 6, 2019
The IRS recently announced the tax year 2020 annual inflation adjustments for more than 60 tax provisions.
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September 30, 2019
The IRS recently issued a draft of the tax year 2019 Form 1065, U.S. Return of Partnership Income and its Schedule K-1, Partner’s Share of Income, Deductions, Credits, etc.
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