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

Jan 28, 2020

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

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