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The Internal Revenue Service released guidance Monday for employers claiming the employee retention credit for 2020 and how it relates to eligibility for the Paycheck Protection Program.

Two members of Congress teamed up Friday to introduce a bipartisan bill that would offer tax credits for income from tips to beauty salon owners and workers.

The Biden administration is likely to dramatically change its approach to tax policy, with the first step in the stimulus package it began pushing through Congress this month.

The Internal Revenue Service is girding for the official start of tax season Friday as taxpayers and preparers deal with tax breaks related to COVID-19 and questions about stimulus payments.

Senator Mitt Romney is offering a child tax credit expansion plan similar to a proposal President Joe Biden is pushing to include in the next stimulus bill, offering a glimpse of areas on which Republicans and Democrats could find compromise ...

The Internal Revenue Service is clarifying its guidance on provisions of the coronavirus relief legislation providing tax credits to employers offering paid sick leave and family leave to workers.

CPA firms will be in a great position to help their small business clients with the latest round of the Paycheck Protection Program, according to Barry Melancon.

Last month’s COVID-19 relief bill has accountants recommending some deductions to clients, and wondering about the applicability of others.

Sen. Ron Wyden, D-Oregon, who is chairing the Senate Finance Committee now that Democrats have won control of the Senate, described some of his policy priorities, including the tax area where his committee has oversight.

The Internal Revenue Service and the Treasury Department released final regulations Wednesday on how businesses can claim a tax credit for use of carbon capture equipment to help the environment.