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 28 CNBC: 10,000 stores are expected to close in 2021, as pandemic continues to pummel retailers The New York Times: The SBA finds ‘anomalies’ in hundreds of thousands of small business relief loans Yahoo! Finance: Jobless claims: Another 847,000 Americans filed unemployment last week January 27 MarketWatch: Home prices are rising at the fastest pace since the Great Recession, price barometers show CNBC: Restaurants staged nimble responses to Covid’s blows in 2020, but 6 years of growth were wiped away CBS News: Biden’s Department of Education Secretary pick Miguel Cardona says student debt relief will be “a priority” January 26 CNBC: U.S. toy sales surged 16% in 2020 as parents looked to entertain kids during pandemic Forbes: Tax Refund Chart Can Help You Guess When You’ll Receive Your Money In 2021 Fast Company: Still no IRS stimulus check in the mail or by direct deposit? Here’s how and when to trace it January 25 Fast Company: Taking on additional responsibilities at work? You’re not alone Yahoo! Finance: Stimulus checks and taxes: What you need to know before filing your 2020 income tax returns NBC News: Tech companies are leaving Silicon Valley for cheaper cities January 24 CNN Business: The megarich have already recovered from the pandemic. It may take the poor a decade to do so January 23 Forbes: Win $1 Billion Mega Millions Lottery Jackpot, Pay Mega Taxes
January 22 USA Today: Stimulus checks and taxes: What you need to know before filing your 2020 income tax returns Reuters: U.S. labor market recovery fading; housing, factories underpin economy Forbes: A Cultural Tax History Of The Three-Martini Lunch January 21 Fast Company: Biden stimulus update: What the new president and Senate could mean for third checks CNN Business: A big infrastructure spending bill might finally be in the cards Yahoo! Finance: Jobless claims: Another 900,000 Americans filed new unemployment claims last week January 20 Bloomberg: San Francisco Office Vacancy Rate Eclipses Financial-Crisis High Yahoo! Finance: Over $5 billion in U.S. small business relief loans approved in first week: SBA CNBC: States have tried seizing unemployment benefits during the pandemic. Some fear new rules won’t help January 19 Forbes: State Death Tax Hikes Loom: Where Not To Die In 2021 CNBC: Yellen says U.S. must ‘act big’ on next coronavirus relief package Fast Company: IRS stimulus checks: Painfully slow mailed-out payments frustrate many Americans January 18 CBS News: Third stimulus check: When could you get a $1,400 check? January 17 CNBC: Holiday sales rose stronger-than-expected 8.3% as consumers bought gifts to lighten mood during pandemic January 16 Forbes: IRS Announces Filing Season Open Date (It’s Later Than Expected) January 15 TaxBuzz: What’s Inside Biden’s $1.9 Trillion Stimulus Package CNN Business: Huge step in the wrong direction: Unemployment claims soar Forbes: IRS Says Key Tax Forms Will Be Ready For Tax Season, But There’s No Start Date Yet January 14 The Hill: SBA to reopen Paycheck Protection Program on Jan. 15 CNBC: How being unemployed in 2020 could lead to a surprise tax bill USA Today: Hurting long before COVID-19, failing companies took stimulus money then closed anyway January 13 Fast Company: IRS stimulus check update: What to know about mailed payments and the Friday deadline Reuters: U.S. labor market losing speed as COVID-19 spirals out of control CNBC: Cellphone service is cheaper, but bills haven’t dropped — taxes are one reason why January 12 CNBC: Many workers are unsure how, or when, they can collect extra unemployment benefits Forbes: FAFSA Simplification Changes Which Parent Must File The FAFSA CNN Business: Only 39% of Americans can afford a $1,000 emergency expense January 11 CNBC: State tax departments set their sights on pro athletes’ earnings The Wall Street Journal: PPP Loans: Everything We Know About Latest Small Business Protection NBC News: PPP loan program reopens with revamped rules to stamp out fraud January 10 CNN Business: Nearly 4 million Americans have been out of work for at least six months January 9 Forbes: Can You Deduct Business Expenses Used For PPP Loan Forgiveness? January 8 CNN Business: Mortgage rates kick off 2021 with a new record low Reuters: Error puts millions of U.S. stimulus payments in wrong accounts -TurboTax Fast Company: Extra unemployment benefits update: Here’s the latest on which states are paying and what to expect CNBC: Millions of stimulus debit cards will be mailed out starting this week January 7 MarketWatch: Bitcoin price surges to $40,000, doubling in just about 3 weeks The Wall Street Journal: U.S. Unemployment Claims Remain Elevated While Consumer Demand Boosts Goods Imports CNBC: Weekly jobless claims little changed despite signs that hiring is slowing 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