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Live Updates: The Latest COVID-19 News for Taxpayers and Small Business Owners

Live Updates: The Latest COVID-19 News for Taxpayers and Small Business Owners

As the whole world grapples with the personal, professional, and economic fallout of the COVID-19 outbreak, we wanted to help our tax and small business clients stay up to date on the latest news affecting them each day. Keep checking back for the top headlines to stay informed.

Here is some of the important news to keep up with today:

October 28

CNBC: New retirement bill has perks for seniors, student loan borrowers

Fast Company: Stimulus update: What the Senate break and stalled talks mean for second checks and unemployment

MarketWatch: Consumer confidence slips in October as Americans turn less optimistic about future

The Hill: Holiday spending estimates lowest in four years: poll

October 27

CNBC: Here are the new income tax brackets for 2021

Vox: How bookstores are weathering the pandemic

Forbes: IRS Announces 2021 Retirement Plan Contribution Limits For 401(k)s And More

October 26

The Hill: IRS gives federal beneficiaries more time to register for stimulus payments for children

CNBC: Business is booming for plastic companies as demand for plexiglass surges

The Wall Street Journal: Uber, Lyft Face a No-Sharing Economy

October 25

Forbes: Pelosi: No Agreement Yet On Testing Language As Time Runs Out For Pre-Election Stimulus Bill

October 24

Fast Company:Stimulus negotiations drag as hope fades for pre-election deal on 2nd checks, unemployment

October 23

The Wall Street Journal: The IRS Reels in a Whale of an Offshore Tax Cheat—and Goes for Another

CNN Business: Uber and Lyft must reclassify drivers as employees, appeals court finds

Bloomberg: Pelosi-Mnuchin Talks Drag, Likely Pushing Stimulus Past Election

October 22

USA Today:'I had to start my future': Workers who lost jobs because of COVID-19 find new careers in these fields

CNN Business: American jobless claims fall below 800,000 for the first time since mid-March

The Wall Street Journal: Applying for PPP Forgiveness? Here Are Some Things to Know

October 21

CNBC: Amazon employees can work remotely through June 2021

USA Today: With stimulus stalled, shortfalls in tax revenues leave states facing layoffs, service cuts

Forbes: Business Meals Tax Deduction Updates And The Impact On Restaurants

October 20

The New York Times:
 U.S. Accuses Google of Illegally Protecting Monopoly

CBS News: Workers are being laid off twice as COVID ripples through the economy

Reuters: U.S. single-family homebuilding, permits surge to more than 13-year high

October 19

 Deadline looms for stimulus deal before Election Day with key differences unresolved

The New York Times: Rapper Arrested After Bragging About Unemployment Fraud in Video

The Hill: CVS adding 15,000 employees ahead of flu season, coronavirus vaccine rollout

October 18

The Hill:
 Pelosi gives White House 48-hour deadline for coronavirus stimulus deal

Politico: The next economic crisis: Empty retail space

Forbes: The Real Recession Is Just Starting

October 17

 Employment gains are reversing course

The Hill: Expiring benefits raise economic stakes of stalled stimulus talks

CNBC: Treasury encouraged banks to prioritize PPP loans for existing clients, hurting minority- and women-owned small businesses, House report says

October 16

Axios: Study: 8 million Americans have fallen into poverty since May

The Hill: Justice Dept. charges Texas billionaire with biggest tax fraud case in US history

The Washington Post: Pelosi walks tightrope in stimulus talks amid pressures of election, economy

October 15

CNBC: Jobless claims jump, hitting highest level since mid-August

Forbes: Report: Billionaire Robert F. Smith Will Settle Federal Tax Evasion Case For $140 Million

Politico: Millions of workers face jobless benefits cliff with lifeline set to expire

The Hill: Wells Fargo fires 100 employees suspected of abusing coronavirus relief funds

October 14

The Hill: IRS closes in on final phase of challenging tax season

CNBC: AMC warns it could run out of cash this year

Small Business Trends: 45% of Small Businesses Have Earned Half or Less of Their Pre-COVID Revenue During Pandemic

CNN Business: Black Friday deals for days: Walmart is trying to avoid crowds this year

October 13

CNN Business: Another huge round of airline losses is coming

Forbes: Tax Law Changes Allow For Year-End Charitable Planning Opportunities

CNBC: Lawmakers have been discussing second $1,200 stimulus checks for 5 months. Why those payments are still uncertain

The Hill: Stocks drop as stimulus talks waver

October 12

The Washington Post: Amid pandemic, many businesses in precarious spot as 2020 ends

Forbes: Urgent Call For Second Stimulus Checks And Economic Stimulus Relief

USA Today: Microsoft adopts 'hybrid workplace' that will let more employees work from home permanently

October 11

USA Today: 865,000 women left the workforce last month

Forbes: Most Taxpayers On Extension Must File By October 15

CNBC: Democrats and Republicans dismiss Trump’s coronavirus stimulus offer, dimming hopes for a deal

October 10

Forbes: SBA Easing Forgiveness Of Paycheck Protection Program Loans Of $50,000 Or Less

CNBC: Bubbles, tents and greenhouses: Restaurants get creative to keep outdoor diners warm

Politico: Hard-hit small businesses face long winter without lifeline

October 9

The Wall Street Journal: WarnerMedia Plans Thousands of Job Cuts in Restructuring

The Hill: Under 30 percent of workers expect to return in person by the new year: survey

CNN Business: The US debt is now projected to be larger than the US economy

October 8

AP: Bleak outlook without stimulus: More layoffs, anemic growth

CNBC: Jobless claims were worse than expected amid slowdown in hiring

The Hill: Supreme Court hears landmark $9B copyright fight between Oracle, Google

October 7

CNBC: Trump says he’s calling off stimulus negotiations with Democrats ‘until after the election’

CNN Business: Southwest Airlines wants workers to take pay cuts to avoid furloughs

The Hill: Powell warns of downward spiral of layoffs, recession without further coronavirus aid

October 6

CNN: John McAfee indicted for tax evasion, arrested in Spain

The Wall Street Journal: How Coronavirus Changed the Retail Landscape

CNBC: Pelosi, Mnuchin speak for an hour but don’t reach a coronavirus stimulus deal

October 5

USA Today: IRS extends deadline to register for a stimulus check, giving millions more time to get Economic Impact Payments

MarketWatch: Economists growing less optimistic about outlook for U.S. economy

Forbes: IRS Must Pay $100 Million Worth Of $1,200 Stimulus Checks, Judge Orders In Prisoners’ Lawsuit

October 4

Business Insider: Nancy Pelosi says progress is being made on more US stimulus and tells airlines 'don't fire people'

October 3

The Washington Post: House Democrats pass $2.2 trillion stimulus bill over GOP opposition; bipartisan talks continue

CNBC: ‘Massively concerning’ jobs report sends a signal that the economic recovery could be fading

October 2

CNN: House approves $2.2 trillion stimulus plan from Democrats with no bipartisan deal in sight 

The Wall Street Journal: How To Avoid Paying the Cruelest Tax: Inflation

CNBC: Two months later, the end of the $600 boost to unemployment benefits is already causing a drag on the economy

October 1

The Wall Street Journal: U.S. to Start Forgiving PPP Loans After Borrowers Complained

Yahoo! Finance: Jobless claims: Another 837,000 Americans filed new unemployment claims last week

CNBC: House delays vote on $2.2 trillion coronavirus stimulus bill to allow more time for talks

The Hill: American Airlines to furlough 19,000 workers

September 30

CNBC: Pandemic forces a reckoning for restaurants coping with capacity limits and new consumer habits

Bloomberg: New York Region Sees 40% Bankruptcy Surge, Braces for More

Forbes: What the Work-From-Home Boom Means for Your Future

CNN: Disney is laying off 28,000 employees as pandemic hammers its theme parks

The Wall Street Journal: Seven Airlines Close Billions of Dollars in Loans With Treasury

September 29

Business Insider: The average amount Americans pay in federal income taxes, by income level

Fast Company: Headed back to the office? These are your rights as an employee

CNBC: United, pilots agree on schedule reductions to avoid nearly 3,000 furloughs

Forbes: Stimulus Update: $2.2 Trillion Stimulus Package Proposal Unveiled, Includes $1,200 Stimulus Checks And $600 Unemployment Benefits

September 28

The New York Times: Some Workers Face Looming Cutoffs in Health Insurance

Accounting Today: Tax relief granted for Hurricane Sally victims

CNBC: Office real estate market will get back to pre-Covid level, in 2025: Cushman & Wakefield

September 27

CNBC: Pelosi believes coronavirus stimulus deal still possible as Democrats prepare new package

Forbes: Man Finds 9-Carat Diamond. IRS Finds—And Taxes—Man

Politico: No forgiveness: Small businesses still on hook for rescue loans

September 26

Forbes: IRS: Claim Your $1,200 Stimulus Check By October 15

MarketWatch: U.S. September job report is going to show economy entering a weaker phase

CNBC: Retailers have started paying rent again but are still fighting with their landlords

September 25

Business Insider: Half of adults who lost their jobs during the pandemic are still unemployed

MarketWatch: Walmart is hiring 20,000 seasonal workers — here’s how a seasonal job could affect your unemployment benefits

CNBC: House Democrats prepare new $2.4 trillion stimulus plan with unemployment aid, direct payments

September 24

CNN: Congress poised to leave town until after the election without passing coronavirus stimulus

Yahoo! Finance: U.S. business activity slows, house price inflation accelerates

Accounting Today: IRS says lenders don’t need to report PPP loan forgiveness

The Hill: Remote work poses state tax challenges

CNBC: Weekly jobless claims rise unexpectedly as stimulus boost fades

September 23

The New York Times: Uber and Lyft Could Gain From U.S. Rule Defining Employment

ABC News: House passes short-term spending bill to avoid government shutdown

CNBC: $300 unemployment benefits end in at least 9 states as stimulus hopes fade

USA Today: Restaurant chain Sizzler files for Chapter 11 bankruptcy, citing impact of COVID-19 pandemic

CNN Business: Walmart, UPS and others are staffing up for an online shopping surge this holiday season

September 22

CNN Business: Six months into the pandemic, the US economic outlook is getting gloomier 

The Hill: DC investing $4M to help small businesses winterize outdoor dining areas

CNBC: ‘We are stuck, with little to no options’: 6 months after the CARES Act passed, many Americans are still struggling

September 21

USA Today: U.S. could slip into double-dip recession if Congress doesn't pass new stimulus, some economists say

Forbes: What Happens If There Is No Second Stimulus Package?

MarketWatch: 165 Million Americans Will Witness a Social Security First in 2021

September 20

The Hill: Airline CEOs plead with Washington as layoffs loom

Forbes: The 2020 Housing Boom Is A Perilous Economic Signal

CNBC: Coronavirus recession ends for the rich but is far from over for lower-income communities

September 19

CNBC: The list of countries where travelers can go live and work remotely is growing

The Wall Street Journal: No Job, Loads of Debt: Covid Upends Middle-Class Family Finances

Yahoo! Finance: Wait, it's September and you still haven't received your tax refund? Here's why

September 18

Fast Company: 60% of shuttered businesses on Yelp will never reopen

The Hill: CBO: COVID-19 rescue packages saved 4.7 percent in GDP

CNBC: Airline CEOs meet with White House in last-minute plea for more coronavirus aid

September 17

CNBC: Trump suggests he could back a bigger coronavirus stimulus as top aide says he’s more optimistic about a deal

The Wall Street Journal: U.S. Unemployment Claims Held Steady at 860,000 Last Week

Bloomberg:When to Stop Working From Home? How About Never, Workers Say

Yahoo! Finance: Fed signals interest rates to stay near-zero through 2023

September 16

CNBC: Yelp data shows 60% of business closures due to the coronavirus pandemic are now permanent

The Hill: Businesses, states pass on Trump payroll tax deferral

Forbes:There’s A New Tax Form - With Some Changes - For Freelancers & Gig Workers

Fast Company: Your HR manager is now your nurse, hall monitor, and remote IT liaison

September 15

NBC News: Didn't receive a stimulus check? The IRS wants to help you.

Forbes: Mnuchin Says More Stimulus Needed—Don’t Worry About The Deficit

CNBC: Americans are raiding retirement savings during coronavirus pandemic

September 14

CNN: JCPenney could be doomed, even as malls race to save it

The New York Times: Payroll Tax ‘Cut’ Fizzles

NPR: As Auto Industry Roars Back, Worker Shortages Throw Up Roadblocks

USA Today: More workers hit with pay cuts than in last recession, and stagnant wages could linger

September 13

Forbes: IRS Releases New Per Diem Rates For Taxpayers Who Travel For Business

Fast Company: Extra $300 unemployment update brings bad news from FEMA about the end of benefits

CNBC: Why third-quarter taxes are confusing for small businesses in the Paycheck Protection Program

September 12

Business Insider: Trump's $300 unemployment benefit is expiring with nearly 30 million Americans still on unemployment

Forbes: Your First Look At 2021 Tax Rates: Projected Brackets, Standard Deductions & More

CNBC: Movie theaters rushed to reopen, but now there are no blockbusters to play

September 11

CNBC: At least 20 states start paying the extra $300 weekly unemployment benefit

ESPN: Ex-New York Jets WR Josh Bellamy charged in $24 million coronavirus relief loan scheme

CNN Politics: After negotiations falter, Senate fails to advance Republican bill addressing coronavirus pandemic

The Hill: IRS to offer tax filing form in Spanish for the first time

CNBC: Goldman now sees a 35% jump in Q3 GDP, much higher than the rest of Wall Street

September 10

CNBC: Weekly jobless claims miss estimates as employment gains taper

Yahoo! Finance: There's a 'staggering shortage of homes on the market': economist

The Hill: Dozens of Austrians with no US affiliation get coronavirus stimulus checks: report

CNBC: Mall owners Simon, Brookfield set to rescue JC Penney from bankruptcy in $800 million deal

September 9

The Hill: Senate to vote Thursday on GOP coronavirus bill

CBS: IRS: Up to 9 million people need to claim federal stimulus checks

Yahoo! Finance: Coronavirus stimulus: What’s in Senate Republicans’ pared-down relief bill

CNN Business:JPMorgan investigates employees over potential misuse of PPP loans

September 8

CNBC: Labor Day weekend air travel hits nearly 6-month high, but holiday caps dismal summer season

The Hill: Senate to vote on scaled-down coronavirus relief package

Fast Company: Will companies open back up after Labor Day? Business executives reveal their plans

September 7

The Hill: Five things to know about Trump's payroll tax deferral

Forbes: Second Stimulus Check Update—Congress Returns To Session Tomorrow

CNBC:These restaurant chains are unveiling new designs inspired by the pandemic

September 6

Business Insider:Global economies are 'several quarters' away from returning to pre-pandemic levels

NBC News: August jobs report may appear rosy, but most job cuts have yet to hit, economists warn

Politico: ‘A tale of 2 recessions’: As rich Americans get richer, the bottom half struggles

September 5

CNN:US adds 1.4 million jobs in August, but is still down 11.5 million jobs since Covid hit

The Hill: Labor Day caps dismal summer for travel and tourism

Forbes: The Payroll Tax Holiday Is Not A Tax Cut. Here’s Why It Matters

September 4

The New York Times:Unemployment Claims Show Layoffs Continue to Batter Economy

The Hill: Florida man accused of misusing $2M coronavirus small business loan to buy boat

CNBC: Most American vacationers plan to spend the Labor Day weekend working, survey finds

September 3

USA Today: Number of Americans seeking jobless aid remains high as economy struggles with COVID-19

AOL: Coronavirus stimulus: Extra unemployment benefits remain stalled as executive actions fail to replace negotiations

The Hill: Social Security trust fund to run out by 2031: CBO

September 2

Reuters: Thousands of small-business loans may have been fraudulent, U.S. House panel finds

CNBC: Job growth expected to slow sharply over the next decade, Labor Department says

NPR: Making Gyms Safer: Why The Virus Is Less Likely To Spread There Than In A Bar

CNN Business: It's been 6 months of working from home. Here's what we've learned

September 1

CNBC: The payroll tax deferral takes effect Sept. 1. What it really means for your paycheck

The Hill: Treasury: 70 percent of stimulus payment money sent to dead people has been recovered

MarketWatch: Americans are spending less at grocery stores as second round of stimulus checks remain on hold

August 31

The New York Times: Bill for Trump’s Tax Holiday Will Be Due Next Year, Treasury Dept. Says

CNN: These businesses are making more money because Americans are staying home

Forbes: Stimulus Deal Getting Closer, But There's More Work To Be Done

August 30

CNN: Here's what the payroll tax deferral action means for you

Forbes: COVID Shutdowns Crushed Home Furnishings And Furniture Stores. The Squeeze Will Continue.

CNBC: Homeowners, in foreclosure, will also face tax implications. What you should know

August 29

CNBC: IRS guidelines put employers on the hook for Trump’s payroll tax break

The Hill: Americans saved nearly $91 billion by working from home during pandemic: report

Forbes: Questions Remain After IRS Rolls Out Guidance On Payroll Tax Deferral

August 28

The New York Times: White House Wants Companies to Foot Payroll Tax Bill for Workers

CNBC: 25% of U.S. malls are expected to shut within 5 years. Giving them a new life won’t be easy

Reuters: U.S. Labor Department changes jobless claims data methodology after economic shock

The Hill: Consumer spending slowed in July as coronavirus surge dampened recovery

August 27

Forbes: New PPP Rules From SBA Aimed At Clarifying Loan Forgiveness

The New York Times: Airline Job Cuts Could Pressure Congress and Trump on Stimulus

CNBC: Another million applied for jobless benefits as coronavirus pandemic’s economic toll rises

August 26

CNBC: More pain ahead for landlords as restaurant bankruptcies poised to balloon in coming months

Forbes: IRS To Mail 50,000 Stimulus Checks Next Month 

USA Today:'We shouldn’t have to beg': Americans struggle without unemployment aid as Congress stalls on extending benefits

August 25

CNN: Tracking America's economic recovery during coronavirus

Forbes: Sorry America, But The Second Stimulus Check May Not Happen After All

Politico: Economy hurting after Congress fails to act on stimulus

The Hill: Survey: One-fifth of small businesses will close if conditions don't improve

August 24

Politico: Not just a low-wage recession’: White-collar workers feel coronavirus squeeze

Bloomberg: Goldman Says Almost a Quarter of Temporary Layoffs in U.S. to Be Permanent

CNBC: Economists see a chance of a double-dip recession, survey shows

August 23

CNN: Jobless Americans surviving on less than $200 a week in some states -- and urging Congress to act

Fast Company:Extra unemployment and stimulus check update: A few states are sending out aid this week

CNC: Struggling retailers rush to file for bankruptcy as fears of a second wave of coronavirus linger

August 22

CNN: American Airlines is dropping service to these 15 cities. This is likely only the beginning

Deadline:Unemployment Funds For California Approved By FEMA, But When You’ll See It Is In Question

The Hill: Mortgage delinquencies of at least 90 days rise to highest level in 10 years

August 21

Forbes: IRS Releases Draft Form 1040: Here’s What’s New For 2020 

The Hill: Uber, Lyft granted emergency stay of injunction requiring drivers be reclassified in California

CNBC: Why there’s still hope for second $1,200 stimulus checks despite stalled congressional talks

August 20

Fast Company: My startup made difficult layoffs. Here’s how I kept morale up and our culture intact

USA Today: IRS to distribute tax refund interest checks to taxpayers who filed 2019 returns on time

CNBC: U.S. Jobless Claims Rise to More Than 1 Million

August 19

CNBC: 7 states approved to offer extra $300 weekly unemployment benefits

Forbes: 30 U.S. Business Associations Call Trump's Executive Order Deferring Payroll Tax Obligations 'Unworkable'

The New York Times: Uber and Lyft Consider Franchise-Like Model in California

CNN Business: Housing market is still going strong and propping up the economy

CNBC: Walmart says consumer spending dropped as stimulus checks ran out

August 18

Accounting Today: IRS offers reprieve for taxpayer checks caught in backlog of unopened mail

MarketWatch: Boeing offers workers a second round of voluntary layoffs

CNBC: $300 unemployment boost may last for only for 3 weeks

Forbes: A Tiny Silver Lining From The Pandemic: Small Businesses Are Expanding

Bloomberg: FHA Mortgage Delinquencies Reach a Record, Led by New Jersey

August 17

The New York Times: The Week in Business: Unemployment Checks Get Chopped

CNBC: A flood of job losses looms as airline industry struggles in pandemic

Forbes: Columbia Announces Undergrads Will Study Remotely, Latest College To Reverse Course

August 16

CNN Business: Uber and Lyft could shut down in California this week. It may not help their cause

The Motley Fool: Working Remotely During Coronavirus? Prepare for This Tax Surprise

CNBC: ‘It’s nerve-racking’ — Millions of Americans are still furloughed and unsure when they will return to work

August 15

CNET: Some people will receive an interest payment from the IRS in 2020. See if you'll get one

Fast Company: Unemployment extension update: Is the extra benefit $400 or $300? What’s taking so long?

CNBC: House lawmakers met with White House on stalled coronavirus relief talks

August 14

CNBC: Coronavirus stimulus stalemate could drag on for weeks as Congress leaves town

The Wall Street Journal: Trump’s Payroll-Tax Deferral Plans Spur Confusion

The Hill: July retail sales slow to 1.2 percent, below expectations

MarketWatch: ‘It’s a huge decision’: Judge hands a win to businesses demanding insurance coverage for lost income due to coronavirus

August 13

Fast Company: Will Uber shut down in California? CEO Dara Khosrowshahi threatens just that

The Hill: Tax preparers warn unemployment recipients could owe IRS

CNBC: PPP loan forgiveness starts this week. Why some businesses aren’t rushing to apply

CNN: Business: First-time jobless claims fall below 1 million for the first time since March

August 12

The Hill: Corporate bankruptcies on pace for 10-year high

Politico: Derailment of small business rescue clouds U.S. recovery


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