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IRS Lets Taxpayer Deduct Rent for a Personal Residence

(Accounting Web) - Due to the pandemic, millions of taxpayers are now working from home. Although the IRS has not yet issued any guidance on whether they would receive special deductions....

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Lesson From The Tax Court: Penalty Approval Form Invalid When Penalty Not Properly Identified 
(TaxProf Blog) - To the uninitiated, §6662 seems to impose a single accuracy-related penalty that varies in amount depending on just how badly the taxpayer screwed up.

Treasury, IRS launch new tool to help non-filers register for Economic Impact Payments 
(IRS) - To help millions of people, the Treasury Department and the Internal Revenue Service launched a new web tool allowing quick registration for Economic Impact Payments for those who don’t normally file a tax return.

Essential Gear that Makes Working from Home Much Easier 
(PC World) - These tech tools and software make it easier to stay productive from home.

What to Do If Your Bank Is Stalling on Your PPP Loan Application  
(Inc.) - Some companies have already started receiving relief funds. If you haven't, here are some options if you're growing anxious.

Oil Price War Ends With Historic OPEC+ Deal to Slash Output 
(Bloomberg) - The world’s top oil producers pulled off a historic deal to cut global petroleum output by nearly a 10th, putting an end to a devastating price war but not going far enough offset the impact of the coronavirus pandemic.

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