Source: Accounting Today: IRS Watch
Year-end tax planning for 2020 involves several new wrinkles, in addition to the usual strategies. The Treasury Department and the Internal Revenue Service continued a significant flow of guidance with respect to the Tax Cuts and Jobs Act in 2020. Most of the new tax legislation was related to COVID-19 relief, and frequently expires at the end of 2020. Those pesky regularly expiring provisions are also expiring once again at the end of 2020.
Read More: More than the usual year-end tax planning