covid-19 pandemic Tag

In recent years, the IRS began increasing identity theft identification efforts following an increase of fraudulently filed tax returns. As part of these efforts to decrease fraud, the IRS is...

Notice 2020-51, issued on June 23, 2020, provides additional flexibility for individuals to decide how to deal with any required minimum distributions (RMDs) they took from 401(k)s or other employer-sponsored...

Ever since 2006, individuals age 70½ or older have been able to transfer up to $100,000 annually from their IRAs to qualified charities. These transfers are referred to as qualified...

Authored by RSM US LLP On July 17, 2020 the Federal Reserve Board released term sheets for two new Nonprofit Organization Loan Facilities, expanding eligibility under the Main Street Lending Program...

As bad as it has been financially for many individuals, 2020 does provide some unique tax opportunities for those who have traditional IRA accounts. These range from converting traditional IRAs...