Thursday, May 14, 2020
WHAT’S THE BUZZ, TELL ME WHAT’S A HAPPENNIN’?
The BUZZ is a bit late this week. But better late than never.
* Not really a tax issue, but something worth sharing from Penelope Wang at CONSUMER REPORTS - “Making Sense of the New Student Loan Rules”.
* A reminder from Matthew Erskine at ACCOUNTING TODAY – “Selling art? Don't forget the taxes”.
* From the NATP BLOG – “TIGTA announces creation of web page and reporting form for coronavirus relief scams” -
“With the new financial implications that arose from the COVID-19 pandemic comes new, potential scams. The Treasury Inspector General for Tax Administration (TIGTA) now has a website regarding the IRS-related coronavirus scams, providing up-to-date information and a call to action for taxpayers to report any suspicious activity.”
Go here for the IRS-Related Coronavirus Scam webpage.
* Over at the JOURNAL OF ACCOUNTANCY Sally P. Schreiber reports “IRS allows midyear changes to health coverage, dependent care elections” -
“As part of its response to the coronavirus pandemic, the IRS announced Tuesday in Notice 2020-29 that it is permitting increased flexibility for midyear elections under a Sec. 125 cafeteria plan during calendar year 2020 for employer-sponsored health coverage, health flexible spending arrangements (FSAs), and dependent care assistance programs.”
* The TAX FOUNDATION has several resources to analyze “Tax Policy And The Coronavirus”.