Wish you were here; refunds and interest; California and gig drivers; and other highlights from our favorite tax bloggers.
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August 27, 2020
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In the blogs: Find the fraud
By Jeff Stimpson      3 min read
Wish you were here; refunds and interest; California and gig drivers; and other highlights from our favorite tax bloggers.
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Trump’s payroll tax deferral on hold without IRS guidance
By Laura Davison and Allyson Versprille     3 min read
The U.S. Treasury Department still has yet to tell companies how to handle President Donald Trump’s order delaying the due date for employee payroll taxes, leaving major employers like Walmart Inc. in the lurch.
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IRS to send extra stimulus money to spouses who were due child support
By Michael Cohn     2 min read
The Internal Revenue Service plans to send approximately 50,000 “catch-up” economic impact payments.
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Trump tax subpoena put on hold while court weighs further delay
By Chris Dolmetsch     1 min read
Manhattan District Attorney Cyrus Vance Jr. agreed to delay enforcement of a subpoena for President Donald Trump’s tax and financial records until after a federal appeals court decides whether or not to put the request on ice for even longer.
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Trump faces N.Y. probe into valuation of assets to get loans
By Erik Larson     4 min read
New York is investigating whether President Donald Trump’s company falsely reported the value of his assets to secure loans and get tax benefits as claimed last year by Trump’s former personal lawyer and fixer, Michael Cohen, who has fallen out with his ex-boss.
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Election 2020: Trump vs. Biden on corporate tax policy
Top 10 Firm Crowe has put together an at-a-glance guide to the candidates' positions on corporate taxes.
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IRS rolling back penalties on some employers who didn’t deposit enough taxes
By Michael Cohn     3 min read
The Internal Revenue Service plans to correct penalties mistakenly levied on employers who reduced their tax deposits because they expected to claim some of the new tax credits to which they’re entitled.
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IRS 2020 draft 1040 puts crypto question front and center
By Ranica Arrowsmith     1 min read
Taxation and regulation are steps toward further legitimizing cryptocurrency.
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Trump fight over delay of subpoena for taxes set for Sept. 1
By Erik Larson     2 min read
A federal appeals court set a hearing for Sept. 1 to consider President Donald Trump’s emergency request to put on hold a judge’s ruling that cleared the way for the Manhattan District Attorney to enforce a subpoena for his tax returns and other financial records.
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Credit Suisse faces Belgian probe over hidden accounts
By Peter Chapman     1 min read
Credit Suisse Group AG faces a criminal probe amid suspicions it helped more than 2,600 clients to hide money in Swiss accounts, Belgian prosecutors said.
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