The initial direct deposits of the second round of economic impact payments are already going out to taxpayers.
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IRS Watch
December 30, 2020
Upcoming Events December 30, 2020
IRS and Treasury start depositing stimulus payments
By Michael Cohn      4 min read
The initial direct deposits of the second round of economic impact payments are already going out to taxpayers.
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Trump signs virus aid bill after panning $600 stimulus checks
By Jordan Fabian and Erik Wasson     2 min read
President Donald Trump signed a bill containing $900 billion in pandemic relief, the White House said, triggering the flow of aid to individuals and businesses and averting the risk of a partial government shutdown on Tuesday.
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Tax Fraud Blotter: Better never than late
By Jeff Stimpson     5 min read
Devil’s in the details; the court date; smackdown; and other highlights of recent tax cases.
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The biggest stories in accounting for 2020
By Daniel Hood
The pandemic reshaped the profession throughout the year — and will continue to do so in 2021.
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2020 year-end tax planning for trusts can yield major savings
By Jo Stahl     4 min read
Even with just a few days remaining in 2020, a trustee can still employ tax-saving strategies.
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Senate GOP has stimulus dilemma as Democrats side with Trump
By Erik Wasson     4 min read
Republicans will likely block Democrats’ attempts to have the Senate follow the House in boosting stimulus payments for most Americans to $2,000, even though President Donald Trump backs the bigger checks.
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GOP blocks Democrats’ bid for $2K payments Trump demanded
By Billy House     1 min read
House Republicans blocked Democrats’ attempt to meet President Donald Trump’s demand to pay most Americans $2,000 to help weather the coronavirus pandemic.
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McConnell rebuffs Trump, Democrats by blocking $2K aid checks
By Erik Wasson and Laura Davison     4 min read
Senate Majority Leader Mitch McConnell on Tuesday blocked an attempt by Democrats to force quick action increasing direct stimulus payments to $2,000 as President Donald Trump warned that failing to act now amounted to a “death wish” by Republicans.
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