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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:
 

January 6

CNBC: Scammers have taken $36 billion in fraudulent unemployment payments from American workers

The Wall Street Journal: Covid-19 Aftermath Could Spell a ‘Lost Decade’ for Global Economy, World Bank Says

Fast Company: IRS Get My Payment: Stimulus check went to the ‘wrong’ bank account? This might be why

CNBC: Private payrolls post first drop since April as coronavirus spread hits job growth, ADP says

January 5

Yahoo! Finance: Where's My Stimulus Check? Use the IRS's "Get My Payment" Portal to Get an Answer

CNBC: Some states start paying $300 unemployment boost while others lag

The Hill: Poll: 75 percent of voters say $600 coronavirus relief checks are 'too little'
 

January 4

CNBC: More than 20 years of airline passenger traffic growth got erased in 2020, report finds

Yahoo! Finance: Inflation Is on the Way for 2021 – Here’s What That Means for You

The Wall Street Journal: Economists Expect Tough Sledding in Winter, Then a Rebound

January 3

The Hill: Twenty states raise minimum wage at start of new year

January 2

CNBC: U.S. air travel hits pandemic high over New Year’s holiday amid surging Covid outbreak

January 1

CNN Business: These businesses were the surprise winners of 202

December 31

Forbes: IRS Says You Don’t Need To Do Anything To Get Your Stimulus Check (And Answers Your Other Questions)

December 30

NBC News: Treasury Secretary Mnuchin says $600 Covid payments start going out Tuesday night

December 29

Bloomberg: Covid Vaccine Gives Small Businesses Enough Hope to Go Bankrupt

December 28

CNN: When will you get a second stimulus check?

Tax Foundation: New Year's Eve and Taxes: Champagne Taxes in Your State

December 27
 

CNN: When will you get a second stimulus check?

December 26

The Washington Post: Analysis | Trump has thrown coronavirus relief into doubt. Here’s what could happen next.

December 25

Yahoo: IRS is ‘setting the trap’ for bitcoin and virtual currency investors on 2020 tax form

December 24

The National Law Review: Global Mobility in a COVID-19 World – Key Employment and Tax Considerations

Entrepreneur: New Stimulus Bill Includes Second Round of PPP Loans for Small Business and Forgiveness Rule Changes Favorable to Borrowers
 

December 23

The Washington Post: Trump calls on Congress to approve $2,000 stimulus checks, hinting he might not sign relief bill without changes

CNBC: Weekly jobless claims rise less than expected, but hold above 800,000

MarketWatch: Congress didn’t extend the student loan payment pause, but lawmakers made other changes that could help students pay for college

December 22

AP: $900B COVID relief bill passed by Congress, sent to Trump

CNBC: Americans will get stimulus checks as soon as next week, Mnuchin says

The Washington Post: Millions of Christmas presents may arrive late because of Postal Service delays
 

December 21

CNBC: New coronavirus relief bill includes $600 stimulus checks, $300 in enhanced unemployment benefits

USA Today: Unemployment benefits face delays for millions even with COVID-19 relief package

The Hill: What is in the $900 billion coronavirus relief bill

December 20

CNN: Hill leaders reach $900 billion Covid relief deal in breakthrough following partisan disputes

December 19

CNBC: Nearly 46,000 businesses slashed 401(k) contributions during pandemic

December 18

CNN: Hill leaders struggle to finalize deal amid looming shutdown threat

CNBC: Mad dash to the finish: A record number of people plan to shop the Saturday before Christmas, survey says

The Hill: Congress set to blow past shutdown deadline amid coronavirus talks
 

December 17

Reuters: COVID-19 surge, depleted fiscal stimulus thump U.S. retail sales

USA Today: Stimulus checks part of looming COVID-19 relief deal as Congress finalizes negotiations

CNBC: Weekly jobless claims unexpectedly rise, hit highest level since early September

December 16

The Hill: Congress closes in on COVID-19 relief, funding deal

CNBC: 1 in 4 Americans will be working remotely in 2021, Upwork survey reveals

Fast Company: Employers are returning to online jobs platforms at a faster rate than jobseekers
 

December 15

Yahoo! Finance: Two Stimulus Packages Announced for Vote on Friday

CNBC: Extra unemployment benefits may be delayed for weeks, even if Congress passes Covid bill

CNN Business: New York City shut down indoor dining. Restaurants worry they won't survive
 

December 14

Forbes: IRS Releases Form 1040 For 2020 (Spoiler Alert: Still Not A Postcard)

The Hill: Bipartisan group splitting $908 billion coronavirus proposal into two bills

CNN Business: The 30 retailers and restaurant chains that filed for bankruptcy in 2020

December 13

CBS News: Stimulus checks: Could you get $1,200, $600 or nothing?

December 12

CNBC: Here’s the average student loan debt by age
 

December 11

MarketWatch: California jobless fraud likely tops $2 billion, Bank of America says 

Fast Company: Why are there so many IPOs during a pandemic? Here are 4 reasons

Forbes: IRS Doubles Down On Pursuing High-Income Non-Filers
 

December 10

CNBC: Covid relief talks hit another wall as Congress runs short on time to send help

The Washington Post: Jobless claims spiked in the US last week, with 853,000 people seeking new benefits

CNN Business: 10,000 of America's restaurants have closed in the past three months
 

December 9

The New York Times: White House Offers $916 Billion Stimulus Proposal, Cutting Jobless Benefits

Reuters: U.S. third-quarter productivity pared; unit labor costs revised up

Forbes: Bob Dylan's Debt To Nashville - It's About Taxes
 

December 8

The Washington Post: Millions of Americans are heading into the holidays unemployed and over $5,000 behind on rent

CNBC: Unemployment benefits: What we know (and don’t) about the $908 billion Covid relief bill

The Hill: One in 6 US restaurants has permanently closed amid pandemic

December 7

Fortune: The IRS effectively canceled the tax break that made PPP loans so valuable

CNBC: Congress aims to fund government for a week to buy time for spending, Covid relief deals

The Hill: House to vote Wednesday on a weeklong stopgap to avoid government shutdown

December 6

The Washington Post: Unemployment, sick leave and housing aid are set to expire in weeks, threatening Americans with sudden financial ruin

December 5

The Wall Street Journal: Employment Picture Darkening, Even More than Jobs Figures Suggest

December 4

CNBC: Employment growth slows sharply in November amid coronavirus surge
 

December 3

The New York Times: 1 Percent of P.P.P. Borrowers Got Over One-Quarter of the Loan Money

CNBC: 83% of small business owners support another round of stimulus relief from Washington, survey reveals

The Hill: Nearly one-third of US adults expect to lose employment income: Census Bureau
 

December 2

USA Today: COVID-19 vaccine prospects may already be boosting consumer spending, economy

CNBC: ADP reports hiring slowdown in November ahead of government payrolls report

The Washington Post: More than half of emergency small-business funds went to larger businesses, new data shows
 

December 1

CNBC: Weekly jobless claims counts are inaccurate and the unemployed are being underpaid, watchdog says

The Hill: GAO: Unemployment benefits fell below poverty line in 13 states

Forbes: IRS Phone Scammer Sentenced To 20 Years In Prison
 

November 30

Fast Company: Black Friday and Cyber Monday outages angered customers on these 48 retail sites

CNBC: October pending home sales fall unexpectedly, as high prices take their toll on buyers

Forbes: If You Inherited A 401(k) From A Parent, Here's When You Need To Take The Money—And When You Should

November 29

USA Today: Black Friday in-store shopping dropped 52.1% as online sales broke records. Will Cyber Monday follow?

November 28

The Hill: Thanksgiving Day spending rose 22 percent this year: analysis

November 27

Forbes: IRS Reduces Future Required Minimum Distributions Just A Little

November 26

Fast Company: Stimulus update: Phew, stimulus checks and aid look more likely

November 25

CNN Business: Devastating and unrelenting' Covid-19 crisis will cost airlines $157 billion, says IATA

The New York Times: 9 Ways to Support Small Businesses

Fast Company:This flight map shows a shocking amount of Thanksgiving travel, despite CDC advice

November 24

CNBC: The CARES Act added a new $300 charitable contribution deduction for 2020. Here’s what you should know

Yahoo! Finance: Coronavirus stimulus checks: 127 economists urge Congress to provide more 'direct cash payments' to Americans

The Hill: Sunday before Thanksgiving was busiest air travel day since March
 

November 23

Business Insider: While the CDC recommended against travel, about 2 million people went through airport checkpoints this weekend. Here's what airports across the country look like right now.

CNBC: Black Friday is almost here. And shoppers are more anxious than ever.

The Hill: US economy hurtles toward 'COVID cliff' with programs set to expire

November 22

Fast Company: Stimulus update: Here’s the latest news on second checks, unemployment as Congress takes a Thanksgiving break

November 21

CNBC: Job loss fears amid lockdowns will hit holiday shopping sales, market researcher Jim Bianco warns
 

November 20

Reuters: Mnuchin pulls plug on some pandemic lending programs that Fed considers essential

USA Today: issing your stimulus check? There's one last chance to claim an Economic Impact Payment from the IRS

Accounting Today: IRS clarifies deductibility of PPP loan expenses, as AICPA criticizes forgiveness questionnaire

November 19

CBS News:12 million Americans set to lose unemployment benefits the day after Christmas

CNBC: Jobless claims filings pick up amid continued struggles for labor market

Business Insider: US Chapter 11 bankruptcies surged to a decade-high in the 3rd quarter as stimulus dried up

November 18

CNBC: The share of long-term unemployment is rising: ‘There’s $0.68 in my bank account’ 

Reuters: U.S. retail sales lose speed as pandemic, lack of fiscal stimulus weigh

The Hill: IRS to resume home visits, increase new investigations after pandemic subsides
 

November 17

Entrepreneur: The map of America's economic decline of 2 trillion dollars

Business Insider: Car travel won't see a huge drop this Thanksgiving, with AAA expecting to rescue 413,000 US drivers roadside

Forbes: Promising Vaccine News Makes Case For More Stimulus ‘Even More Compelling,’ Former Fed Official Says

November 16

The Hill: Fears of double-dip recession rise alongside COVID-19 cases

CNN Business: Small toy stores are worried they won't stay in business after this year

Fast Company: A new study on ‘super-spreader’ COVID businesses is more bad news for restaurants

The Wall Street Journal: Millions of Unemployed Americans Face Loss of Benefits at Year’s End

November 15

Forbes: Your Tax Transcript May Look Different As IRS Moves To Protect Privacy

November 14

CNBC: Americans would spend more this holiday season with $1,200 stimulus checks, Gallup study finds
 

November 13

CNBC: Deutsche Bank proposes a 5% tax for people still working from home after the pandemic

Reuters: U.S. data suggests economic recovery may be weakening

CNN Business: These small businesses might not make it without more stimulus
 

November 12

CNN Business: Another 709,000 Americans filed for unemployment claims last week

Forbes: Back To Office Work, With (Or Without) A Covid-19 Vaccine

CNBC: Democrats and Republicans are still far apart on economic stimulus deal as coronavirus infections surge
 

November 11

Accounting Today: Sotheby’s sued by New York for helping client avoid taxes

CNBC: Mortgage demand from homebuyers drops to lowest level in 6 months

The Hill: 2.2M women have left the workforce since February: analysis

MarketWatch: Should working from home be taxed?

November 10

The Wall Street Journal: Evidence of PPP Fraud Mounts, Officials Say

CNBC: How student loan borrowers should prepare for Trump’s forbearance period to end this December

Reuters: U.S. still faces possible default wave, asset declines due to pandemic: Fed
 

November 9

Axios: Over 1 million Americans filed for unemployment for 33rd straight week

CNBC: America’s iconic retailers fight for survival as pandemic rages on

November 8

Business Insider: A 'growth bomb' is brewing in the US with consumers sitting on $2.5 trillion in savings — and it's poised to give the economy a huge boost

November 7

Forbes: IRS To College Students: It’s Not Too Late To Register For A Stimulus Check
 

November 6

CNN: Another 751,000 Americans filed for unemployment benefits last week

The Wall Street Journal: Judge Orders SBA to Release Names of All PPP Borrowers, Precise Loan Amounts

CBS News: IRS says time is running out for people to get their stimulus check

CNBC: Uber reports 18% revenue decline but says ride-hailing business is picking back up
 

November 5

CNBC: What Uber, Lyft Prop 22 win could mean for the future of all freelance work

Forbes: IRS Warns On New Scam Related To Stimulus Checks

The Hill: Jobs growth slowed to 365,000 in October: ADP
 

November 4

CNBC: End of $600 unemployment boost pushes more households to the edge

NPR: States Demand Refunds For Unemployment Money Paid In Error

Fast Company: Uber wins big over gig workers in California Prop 22 vote
 

November 3

Reuters: U.S. manufacturing near two-year high; road ahead difficult

CNBC: AMC seeks stock sale to raise $50 million to stave off bankruptcy

The Hill: Friendly's files for bankruptcy, citing 'catastrophic impact of COVID-19'


November 2

CNBC: America’s malls under pressure: CBL, Pennsylvania REIT, file for bankruptcy

Forbes: 4 Things To Keep In Mind During National Entrepreneurship Month

CNN Business: Here's how stores are changing Black Friday for the pandemic


November 1

USA Today: 'It's certainly going to get worse': Businesses plan more layoffs, hiring freezes in 2020 as COVID-19 escalates
 

October 31

Fast Company: Second stimulus checks, extra unemployment update: How soon after the election could a deal happen?

October 30

CNBC: Student loan borrowers got a break in the pandemic. Will it continue?

The Hill: Coronavirus hits newspapers hard as television news thrives: Pew

CNN Business: Outdoor heaters aren't enough to save restaurants this winter

October 29

Forbes: Q3 Growth Spikes, But U.S. Economy Far From Full Recovery

The Washington Post: US jobless claims fall to 751,000 as layoffs remain high nearly 8 months after virus struck economy

CNBC: Vast migration of over 14 million Americans coming due to rise in remote work, study shows

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

CNN:
 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

Axios:
 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

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