Will President Trump Sign the Stimulus Bill?
Congress passed a massive stimulus, spending, and tax extenders bill, but it hasn’t been signed into law. Here’s what’s holding it up and what could happen next.
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Congress Says There’s an Agreement on New Stimulus Checks
(Author’s Note: The bill passed in the House and Senate on December 21, 2020, after this piece originally appeared.) Congress has finally agreed on a COVID relief package. It is the first significant stimulus action from Congress since the Coronavirus Aid, Relief, and Economic Security Act (the CARES Act) was signed into law in March…
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Congress Includes Paycheck Protection Program Provisions in Stimulus Bill
(Author’s Note: The bill passed in the House and Senate on December 21, 2020, after this piece originally appeared.) When Congress passed the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) in March of 2020, the law included provisions intended to help businesses. One of the most popular is known as the Paycheck Protection…
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Here’s What’s in the Massive COVID Stimulus Bill
So you know how folks throw around adjectives and superlatives all of the time? And sometimes you just don’t believe them? If you hear anyone describing the latest stimulus bill from Congress as “huge” or “giant” or even “ginormous,” believe them. It’s so large that aides had trouble printing it: And again, while trying to…
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Senators Ask IRS to Work With Taxpayers on COVID-Related Relief
Remember the flurry of IRS notices that got sent out in mid-November? Many of those notices – especially those notices of intent to levy (CP504) – were sent out without regard for individual taxpayer circumstances, with tax practitioners reporting receipt by taxpayers previously marked as CNC (currently not collectible), taxpayers with pending offers, and taxpayers…
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New Covid Stimulus Bill Has PPP Expansion, But No Stimulus Checks
Congress is making some progress on a COVID relief package. If it advances, it would be Congress’s first significant stimulus action since the Coronavirus Aid, Relief, and Economic Security Act, or the CARES Act, was signed into law in March 2020. A second relief bill was introduced and passed in the House in May of…
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Bill To Decriminalize Marijuana For Federal Purposes Passes House
As more and more states legalize marijuana, pressure has been growing for Congress to take some action. This week, the House passed legislation that would end the federal ban on marijuana. The Marijuana Opportunity Reinvestment and Expungement Act (MORE Act) garnered bipartisan support, passing with a 228-164 vote in the House. Under the terms of…
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As Frustrations With IRS Grow, Tax Pros Reach Out To Congress
#TaxTwitter has been abuzz about a flurry of notices of intent to levy (CP504) sent to taxpayers this week. The notices appear to have been sent out without regard for individual taxpayers circumstances with tax practitioners reporting receipt by taxpayers previously marked as CNC (currently not collectible), taxpayers with pending offers, and taxpayers who have…
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Congressional Proposal Would Provide COVID Tax Breaks For Employees & Parents
Our schools stopped in-person instruction due to the pandemic in March. Within a few weeks, it was evident that we were going to have to make some changes. My daughter, who was studying for the German AP exam, was encouraged to practice at home. Since I could – at best – only order a Kolsch…
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Here’s What’s In The ‘Skinny’ Senate Stimulus Bill
It looks like Senate Majority Leader Mitch McConnell (R-KY) may bring a vote on the Senate “skinny” bill – the latest coronavirus relief bill. Why is it skinny? It has a slimmer price tag – and fewer benefits – than before. Some Quick History In May, House Speaker Nancy Pelosi (D-CA) announced a $3 trillion…
