The Internal Revenue Service is making some changes in its collection program to decrease the burden on taxpayers who owe outstanding tax debts and are trying to cope with the economic fallout of the COVID-19 pandemic. The IRS said Monday that it’s making it easier to set up payment agreements and offers in compromise as […]
The Coronavirus Aid, Relief and Economic Security Act became law on Friday, March 27, 2020. The CARES Act included a new federally guaranteed Small Business Administration (SBA) loan program called the Paycheck Protection Program (PPP). The maximum PPP loan was based upon two and one-half months’ average payroll costs for the prior 12 months. If the business […]
Rep. Richard Neal, D-Massachusetts, who chairs the tax-writing House Ways and Means Committee, is asking the Internal Revenue Service to quit mailing notices for unpaid taxes to taxpayers who may have been affected by the mail backlog at the agency due to the COVID-19 pandemic. Many taxpayers have been receiving balance-due notices from the IRS […]
The Internal Revenue Service reminded taxpayers last month that they will need to resume paying their taxes on July 15 as its “People First Initiative” to provide tax and penalty relief in response to the novel coronavirus pandemic comes to a close. July 15 is also the date, of course, when taxpayers were expected to […]
The Internal Revenue Service reminded taxpayers Wednesday that they will need to resume paying their taxes on July 15 as its “People First Initiative” to provide tax and penalty relief in response to the novel coronavirus pandemic comes to a close. July 15 is also the date, of course, when taxpayers will be expected to […]
