By Theresa Schliep

People who received excess premium tax credits in the 2020 tax year do not have to file a form to compute the amount of the Affordable Care Act credit to which they were entitled, the Internal Revenue Service said Friday. 

By Theresa Schliep

The Internal Revenue Service released its weekly Internal Revenue Bulletin on Friday, highlighting a report on advance pricing agreements, guidance pushing back individual tax deadlines and an announcement allowing deductions for personal protective equipment.

By Maria Koklanaris

A provision in the federal pandemic relief law disallowing states from using relief funds to "directly or indirectly" cut taxes or else risk losing money is unconstitutional, 74 Republican members of Congress told a federal court Friday.

By Daniel Tay

Minnesota would conform to federal tax treatment of Paycheck Protection Program loans and provide sales tax breaks for some food service equipment and certain coronavirus pandemic-related expenses by food and beverage businesses under bills introduced in the state Legislature.

By Joseph Boris

As national governments move to restore economies ravaged by the coronavirus pandemic, they should prioritize relief to vulnerable groups and withdraw aid from where it's no longer needed, experts said in research for the world's leading economic powers.

By Joshua Rosenberg

The Internal Revenue Service clarified Thursday that businesses may temporarily deduct 100% of their meal expenses at qualifying restaurants, which the agency defined as places that prepare and sell food and beverage items for immediate consumption.