On March 27, the House passed by voice vote, and the President signed, a third Coronavirus relief package, the Coronavirus Aid, Relief, and Economic Security Act. The Senate had previously passed the Act on March 25 by unanimous vote. The bill contains many tax related provisions. INDIVIDUAL PROVISIONS An eligible individual is allowed an income tax credit for 2020 equal to the sum of: (1) $1,200 ($2,400 … [Read More »]
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