Congress’s latest Covid relief package gives the IRS a slew of new tax measures to interpret—some of which will need to be incorporated into the agency’s software, forms, and instructions ahead of next month’s expected filing season kickoff.
The package’s tax provisions include more direct payments to households, boosted tax credits for businesses and individuals, incentives for renewable energy projects, and permanent excise tax breaks for brewers, winemakers, and distillers.
Fortunately for the IRS, it already has basic programming in place for several provisions that are consequential for the upcoming filing season. The direct payments are based on a similar ...
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