Coronavirus checks, direct deposits are coming. Here’s everything you need to know.
Who qualifies? How much is being sent? When? How will I get the money? Questions and answers. WASHINGTON — As the coronavirus crisis ravages the U.S. economy, millions of Americans are urgently awaiting financial help from Congress in the form of direct …
What’s in the $2 trillion Coronavirus stimulus bill
(CNN) Congressional lawmakers put the finishing touches on a $2 trillion stimulus bill to respond to the coronavirus pandemic, with cash and assistance for regular Americans, Main Street businesses and hard-hit airlines and manufacturers, among others. The Senate passed the bill, 96-0, …
Senate stimulus deal includes individual checks — but don’t expect the money until at least May
Washington (CNN)Lawmakers struck a $2 trillion stimulus deal early Wednesday that includes sending checks directly to individuals amid the coronavirus crisis — but it will likely take until at least May before the money goes out. Under the plan as it was …
11 tax deductions you won’t want to forget about this year
You may have seen or heard people you know talking about how the new tax law made their refunds smaller than expected last year, or even increased the amount they owed to the IRS. Several common deductions were eliminated by the Tax …
Expecting a Tax Refund in 2020? Here’s How Soon You Can File Your Tax Return
Tens of millions of Americans will get tax refunds when they file their 2019 tax returns, and given that the average one was over $2,800 last year, it’s understandable why people might want to get their money as quickly as possible. Unfortunately, …
IRS Issues 2020 Standard Mileage Rates for Business, Moving, Medical and Charity Deductions
The Internal Revenue Service has issued the 2020 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. Beginning on Jan. 1, 2020, the standard mileage rates for the use of …
IRS to Open Tax Season Jan. 27, 2020
The Internal Revenue Service confirmed that the nation’s tax season will start for individual tax return filers on Monday, Jan. 27, 2020, when the tax agency will begin accepting and processing 2019 tax year returns. The deadline to file 2019 tax returns …
If you’re a business owner, grab this 20% tax break before the year ends
KEY POINTS The 20% qualified business income deduction went into effect in 2018. Businesses with pass-through entities — including S-corporations and LLCs — may qualify. If you’re an entrepreneur with 2019 taxable income below $160,700 if single or $321,400 if married and …
Congress Introduces Bill To Improve Experiences For Taxpayers And Modernize The IRS
U.S. Senate Finance Committee Chair Chuck Grassley (R-IA) and Senator Ron Wyden (D-OR) have introduced legislation aimed at improving experiences for taxpayers. The bill, referred to as the Taxpayer First Act of 2019, is intended to modernize the Internal Revenue Service (IRS) and …
