Some Economic Impact Payments (EIPs) were sent on prepaid debit cards. These EIP cards were sent in plain envelopes from “Money Network Cardholder Services.” Some recipients thought the envelopes were junk mail and they...

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The IRS is providing COVID-19-related tax relief for Qualified Opportunity Funds (QOFs) and their investors. In Notice 2020-39, the IRS specifies that if an investor’s 180th day to invest in a QOF would have...

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The IRS has issued FAQs for C corporations that are interested in carrying back net operating losses (NOLs) to years in which the alternative minimum tax (AMT) applies. The Coronavirus Aid, Relief and Economic...

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In new guidance, the IRS has provided more coronavirus (COVID-19) deadline relief for employment taxes, employee benefit plan and other requirements. Notice 2020-35 postpones deadlines for certain specified time-sensitive actions with respect to certain...

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Some married couples want to know if it matters whose information they use on the IRS’s “Get My Payment” tool to find out when they’re getting their Economic Impact Payments (EIPs). According to new...

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“Stay alert and safeguard” your Economic Impact Payment (EIP), urges the Treasury Inspector General for Tax Administration (TIGTA). EIPs are made to eligible taxpayers to help mitigate the financial effects of the novel coronavirus...

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The IRS has announced 2021 inflation-adjusted amounts for contributions to Health Savings Accounts (HSAs). An HSA is a tax-exempt account funded with pretax dollars that can be used only for qualified medical expenses. However,...

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