NEW TAX CUTS AND CREDITS IN STIMULUS BILL

New tax cuts and credits in stimulus bill. The $1.9 trillion stimulus bill that Congress just passed, and President Biden signed into law, has more than just stimulus checks for Americans. In Fact, the majority of the bill has a large number of tax cuts and credits, designed to help the economy, by helping a […]

TAXPAYERS QUALIFY FOR STUDENT LOAN RELIEF

Taxpayers qualify for student loan relief. The IRS extended its safe harbor relief from recognizing cancellation of debt (COD) income for students whose loans were discharged either because their schools were closed or as a result of some type of fraud (Rev. Proc. 2010-11). This revenue procedure establishes a safe harbor extending the relief provided […]

TAX REFORM HAS A GIMMICK

Tax reform has a gimmick. The long awaited tax reform our nation has been told to anticipate, has a gimmick.  Tax Reform is one thing, a tax reform gimmick is another.  When you hear the Republicans discuss this bill, all you hear is that the middle class will get a tax cut. What is in […]