Uber CEO Dara Khosrowshahi (center) joins other employees in ringing the Opening Bell at the New York Stock Exchange (NYSE) as the ride-hailing company Uber makes its highly anticipated initial public offering (IPO) on May 10, 2019 in New York City. Spencer Platt | Getty Images News | Getty Images Gig workers won a landmark […]
New York City hospitals are nearly ‘maxed out,’ former FDA chief says
Hospitals in New York City are nearing capacity due to an influx of coronavirus patients, former Food and Drug Administration Commissioner Scott Gottlieb told CNBC on Wednesday. COVID-19 has killed 192 people in New York City, according to Johns Hopkins University, but Gottlieb said that number will rise if the hospitals become overwhelmed. “New York City hospitals right […]
IRS alters certain operations in effort to protect employees, taxpayers during outbreak
The IRS has announced that, to protect employees and taxpayers during the current coronavirus pandemic, it is scaling back some of its operations to focus on what it describes as “mission-critical activities.” Many IRS offices have closed in areas hardest hit by the COVID-19 outbreak or have reduced their operations, and many IRS employees are […]
Pelosi says there is ‘real optimism’ Congress can reach a stimulus deal in the next few hours
House Speaker Nancy Pelosi sounded a hopeful tone Tuesday about Republicans and Democrats striking an agreement on a staggering stimulus package to blunt the economic damage from the coronavirus pandemic. “I think there is real optimism that we could get something done in the next few hours,” the California Democrat told CNBC’s “Squawk on the Street” […]
Practitioners seek further clarity on tax filing, payment delay
In the wake of the IRS’s notice Friday postponing the April 15 due date until July 15 for federal income tax returns and income tax payments for 2019 tax years (Notice 2020-18), practitioners still had many concerns and questions about the deferral’s effects on related forms, elections, and other returns. The notice also deferred until […]
In coronavirus tweet storm, Trump touts suspect ‘cure’ and potential easing of guidelines to boost economy
President Donald Trump on Monday unleashed a barrage of posts spreading conspiracy theories about the coronavirus, chastising the World Health Organization for its early messaging, attacking his political enemies and the media, and promoting a dubious article that suggested a miracle cure was at hand. In more than a dozen tweets and retweets that started […]
These are our favorite apps for exercising at home if you can’t get to a gym
Workout at home with these apps. insta_photos As coronavirus COVID-19 continues to spread, many of us are finding ourselves indoors and with limited or no access to local gyms. But, we still need to workout to stay healthy. There are plenty of apps available that can help you do that, either for free or through […]
Facebook has moved fast during coronavirus outbreak, and it could restore the company’s reputation
Facebook CEO Mark Zuckerberg at the F8 Developer Conference in 2017. David Paul Morris | Bloomberg via Getty Images Over the past few weeks, Facebook has been quick to launch a number of efforts to help combat the spread of the COVID-19 coronavirus, creating some much needed goodwill for the often embattled social media company. […]
Final regulations address covered assets acquisition rules
The IRS finalized temporary and proposed regulations that are designed to prevent taxpayers from misapplying the Sec. 901(m) statutory disposition rule in certain dispositions of relevant foreign assets (RFAs), including where the gain or loss from the disposition of an RFA is recognized for U.S. income tax purposes but not for foreign income tax purposes, […]
Tax filing deadline moving to July 15, Treasury secretary announces
News Procedure & Administration By Alistair M. Nevius, J.D. {:else} {timeSince} {/if} {@if cond=”{isCGMA}”} {:else} {/if} {/.} Treasury Secretary Steven Mnuchin announced on Friday that tax returns normally due on April 15 will not be due until July 15 this year. The news came in a tweet, and the IRS has not yet issued official […]