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Plenty of workers spent money on coronavirus-protecting gear for their commute to the office. "You're not able to take it as a deduction," said Kemberley Washington, tax analyst at Forbes Advisor.
2021 saw a big expansion of the Earned Income Tax Credit (EITC), as well. “The American Rescue Plan Act increased the eligibility of the credit by broadening the income range to include more ...
In response to coronavirus, the Treasury, IRS and federal government have announced several changes to the tax filing season.
President Trump signs the Paycheck Protection Program and Health Care Enhancement Act (H.R. 266), April 24, 2020. The Paycheck Protection Program (PPP) is a $953-billion business loan program established by the United States federal government during the Trump administration in 2020 through the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) to help certain businesses, self ...
The Coronavirus Aid, Relief, and Economic Security Act, [b] [1] also known as the CARES Act, [2] is a $2.2 trillion economic stimulus bill passed by the 116th U.S. Congress and signed into law by President Donald Trump on March 27, 2020, in response to the economic fallout of the COVID-19 pandemic in the United States.
The business mileage reimbursement rate is an optional standard mileage rate used in the United States for purposes of computing the allowable business deduction, for Federal income tax purposes under the Internal Revenue Code, at 26 U.S.C. § 162, for the business use of a vehicle. Under the law, the taxpayer for each year is generally ...
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Business and Planning Act 2020; Contingencies Fund Act 2020; Coronavirus Act 2020; Coronavirus (Scotland) Act 2020; Corporate Insolvency and Governance Act 2020; Stamp Duty Land Tax (Temporary Relief) Act 2020