The American Bankers Association this week joined a coalition of trade groups in a letter to Treasury Secretary Janet Yellen expressing strong concerns on the potential negative effects of the Organization for Economic Cooperation and Development’s Pillar 2 minimum tax rules.
The Biden administration yesterday released its “Green Book,” a document that contains proposed tax changes that the administration will likely pursue during the coming year.
ABA submitted a comment letter in which it called on FASB to both prioritize their projects on troubled debt restructurings and goodwill, and asked the board to add several projects to its agenda.
To encourage more Americans to get vaccinated against COVID-19, the Treasury Department today announced that it will allow certain eligible employers to claim tax credits for providing paid time off to employees to take a family or household member or certain other individuals to get vaccinated, or to care for a family or household member or certain other individuals recovering from the vaccination.
The Internal Revenue Service released a Spanish-language version of its online tool that helps users determine whether they qualify for the Child Tax Credit and its monthly advance payments.
Families eligible to receive the expanded child tax credit payments now have the ability to update their bank account information so they can easily receive their payments, the Internal Revenue Service announced today.
The Internal Revenue Service released two new online tools to help manage monthly Child Tax Credit payments, which were authorized under the American Rescue Plan.
The Internal Revenue Service has created a new online tool for families that are normally not required to file an income tax return to register for the expanded Child Tax Credit payments, which were authorized by the American Rescue Plan and which will begin to be distributed on July 15.
The Internal Revenue Service today urged all individuals and families who have not yet filed their 2019 or 2020 tax returns to do so as soon as possible so that those who are eligible may begin receiving the expanded Child Tax Credit payments, which were authorized by the American Rescue Plan and which will begin to be distributed on July 15.
ABA supports bipartisan New Markets Tax Credit Extension Act. “By making NMTC permanent, our nation’s small businesses, investors and community development professionals will have access to the vital resources needed to improve our nation’s communities while generating long-term economic growth,” ABA said.