The Internal Revenue Service posted information about how to correctly compute the new exclusion on a portion of unemployment income as Congress pushes the IRS for further tax-filing relief. | IRS offers guidance on unemployment benefits exclusion | | By Michael Cohn 5 min read | | The Internal Revenue Service posted information about how to correctly compute the new exclusion on a portion of unemployment income as Congress pushes the IRS for further tax-filing relief. | |
| SBA defers repayment of disaster loans until 2022 | | By Michael Cohn 2 min read | | The Small Business Administration pushed back the deferment period for all its disaster loans, including the COVID-19 Economic Injury Disaster Loan (EIDL) program, until next year. | |
| IRS delays tax deadline until May 17 | | By Michael Cohn 9 min read | | The Internal Revenue Service is pushing back the tax-filing deadline until May 17 after heavy pressure from Congress and tax and accounting groups. | |
| The clock is ticking on a new unemployment tax benefit | | By Shaun Hunley 3 min read | | For those with less than $150,000 in adjusted gross income who collected unemployment benefits this past year, the COVID relief bill allows them to receive up to $10,200 of those benefits tax-free. | |
| SPONSOR CONTENT | | 3 tips to a better peer review | | Find out how you can further improve your peer review when you attend this session. CPA firm audit partners, audit managers and audit staff interested in improving their audit quality and efficiency should attend. | |
| House votes to extend PPP deadline until May 31 | | By Michael Cohn 5 min read | | The House voted to provide an extra two months for the Paycheck Protection Program, giving businesses until May 31 to apply for forgivable loans during the pandemic. | |
| Biden eyes first major tax hike since 1993 | | By Nancy Cook and Laura Davison 6 min read | | President Joe Biden is looking at higher taxes to help pay for a long-term economic program designed as a follow-up to his pandemic-relief bill. | |
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