Thursday, May 14, 2020


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”.

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”.


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