IRS Tax News - Taxpayers must act soon for direct deposit of stimulus payments The IRS announced that taxpayers for whom the Service does not have direct deposit information should go to its “Get My Payment” website and enter that information by noon on...

IRS Tax News - Trusts and estates are permitted certain deductions The IRS issued proposed regulations to clarify that certain deductions are allowed to an estate or nongrantor trust because they are not miscellaneous itemized deductions. Source: IRS Tax...

Tax Policy - Reducing the Bias Against Long-term Investments Recently, Tax Foundation has been comparing various ways to improve the tax treatment of new capital investments. One of these options is a Neutral Cost Recovery System (NCRS), which reduces the bias...

Tax Policy - Alabama, Missouri Bills Would Exempt CARES Relief from Income Tax Calculation The Alabama Senate is considering legislative language (a substitute to the previously introduced SB 250 tax reform bill) which would exclude the rebate checks provided...