The Internal Revenue Service has issued final regulations permitting a regulated investment company (RIC) that receives qualified real estate investment trust (REIT) dividends to report dividends the RIC pays to its shareholders as section 199A dividends.
The returns filed by Morales and the conspirator were filed using stolen names, social security numbers and birthdates of Puerto Rican residents, the records say.
The $3 trillion Health and Economic Recovery Omnibus Emergency Solutions Act (“HEROES Act”), already passed by the House, would again distribute $1,200 per person, via paper checks, direct deposit deposit or debit cards.
The Oct. 15 deadline also applies to estimated tax payments for the first two quarters of 2020 that were due on July 15, and the third quarter estimated tax payment normally due on Sept. 15.
The 60-day rollover period for any RMDs already taken this year has been extended to Aug. 31, 2020, to give taxpayers time to take advantage of this opportunity.
In the letter, the AICPA conveyed disappointment at the IRS’ failure to notify the organization or its affected members that a change of process was forthcoming. Noting the long-standing and ...
The new Coronavirus Aid, Relief, and Economic Security (CARES) Act includes several tax breaks designed to encourage charitable donations during this national health crisis. Consider the following provisions.
A coronavirus-related distribution is not subject to the 10% additional tax that otherwise generally applies to distributions made before an individual reaches age 59 ½.