Proposed rules govern deductions and reporting for restitution
IRS Tax News – Proposed rules govern deductions and reporting for restitution The IRS issued regulations explaining the allowance of deductions for certain fines and penalties under Sec. 162(f) as amended by the law known as the Tax Cuts and Jobs...Under the HEROES Act, State Budgets Could Soar as the Economy Suffers
Tax Policy – Under the HEROES Act, State Budgets Could Soar as the Economy Suffers The HEROES Act, proposed by House Democrats as a next round of fiscal relief during the coronavirus outbreak, contains about $1.08 trillion in aid to states and localities....Treasury Wants Payments to Deceased Taxpayers Returned
The U.S. Treasury Department has found a loophole in the stimulus payments sent out to individuals. Some of the recipients were actually deceased—and Treasury wants that money back.… Read more (Feed generated with FetchRSS) – Story provided by TaxingSubjects.com…
Upstate Tax Professionals