The massive COVID-19 relief bill signed by President Trump on December 27, 2020, contains a variety of tax breaks and authorizes direct payments to eligible individuals (see right-hand box). The law is titled the Consolidated Appropriations Act of 2021 (CAA) but two sections of it are called the COVID-Related Tax Relief Act (COVIDTRA) and the Taxpayer…

Even in normal times, elderly Americans are vulnerable to con artists. But the COVID-19 pandemic — which has disrupted most seniors’ regular activities and cut many off from face-to-face contact with family — has raised the threat. What type of scams do fraudsters use to target this population and how can you help protect your elderly…

Philanthropic business owners may have made last-minute gifts of stock to charities at the end of 2020. Others plan to make donations in 2021. How much is that stock worth? Donations of publicly traded stocks are relatively easy to value, but private equity interests are typically more complicated to value.   Deduction Requirements Qualified charitable donations…