Finance, investment and tax-related legislation

The payments are one of the central provisions of the $2 trillion stimulus package awaiting a Senate vote.

Days of negotiations between the Trump administration and Congress — and fierce lobbying by industries eager for assistance dealing with the coronavirus outbreak — has yielded a rescue package worth more than $2 trillion in spending and tax breaks.

Republicans and Democrats in the Senate have released separate sets of tax proposals aimed at alleviating the effects of the coronavirus pandemic, in contrast to the two bipartisan bills that have been signed into law already.

A centerpiece of the package is tax rebates to individuals of $1,200 and $2,400 for married couples. Rebates are completely phased-out for taxpayers with incomes exceeding $99,000 for individuals or $198,000 for a couple.

Bipartisan legislation would extend the deadline after guidance from the Treasury Department fell short.

The law to boost retirement planning has tax consequences.

The purpose of the SECURE Act is to incentivize employers to offer retirement plans as well as to improve individual retirement savings outcomes for the millions of Americans without adequate retirement savings.

The ranking Republican on the House Financial Services Committee proposed an amendment that would stop the panel from even thinking about taxing trades of stocks, bonds and derivatives.

A group of Democrats in the House and Senate has introduced legislation that would require large multinational corporations to provide country-by-country financial reports indicating whether they are using offshore tax havens.

Comparing the tax platforms of the Democratic candidates.

The Internal Revenue Service is giving financial institutions a break when it comes to notifying owners of individual retirement accounts about taking their required minimum distributions after a new law increased the age for taking RMDs from 70½ to 72.

A drafting error in the Tax Cuts and Jobs Act inadvertently removed Qualified Improvement Property from bonus eligible property. This was a mistake and a technical correction was expected. However, none was ever made.

Global TaxUpdate, a Lisbon, Portugal-based global tax information provider, has introduced GTU OnDemand, an e-commerce service that provides access to an online store of translated tax legislation.

As the number of taxing jurisdictions putting vaping tax laws in place continues to rise, discrepancies will become even more pronounced.

The two appropriations bills extend government funding while also dealing with several of the tax extender provisions and repealing some Obamacare taxes.

The legislation extends a number of credits, and kills some Affordable Care Act taxes.

Congressional spending bills are expected to permanently repeal the “Cadillac tax” and other taxes funding the Affordable Care Act, raise the tobacco purchasing age to 21, and extend the U.S. Export-Import Bank for seven years, according to a senior House Democratic aide familiar with the talks.

Legislation that would provide big deductions for taxpayers with high state and local tax bills is gathering momentum in the House this week, but it’s headed into a brick wall in the Senate.

House Democrats are making a last-ditch bid to reverse the $10,000 cap on state and local tax deductions before year’s end. But they’ll likely need to renew their efforts in 2020 — or beyond — because the legislation has no chance of becoming law this year.

The legislation from the House Judiciary Committee would decriminalize marijuana at the federal level and reassess pot convictions.