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As part of a new COVID-19 relief package, Democrats are pushing for Americans to receive a third round of stimulus payments.

Tax season officially opens at the end of the week. The IRS will start accepting and processing 2020 returns on Friday the 12th, which is later than usual.

Joseph R. Biden Jr.’s presidency, together with Democratic majorities at both ends of the U.S. Capitol, promises to launch policy and regulatory changes that substantially affect American businesses — and that’s before the impact of 150 million Covid-19 vaccinations that are planned by the end of April.

From changes in educational tax benefits to more generous deductions for business meals, the recently passed COVID-19 relief legislation contained a number of tax provisions beyond the much-sought changes to the treatment of Paycheck Protection Program loan expenses.

If this time last year, you would have suggested that I would spend a majority of my time in 2020 away from my office and reliant upon the tax community on social media to help keep me both informed and sane, I likely would have laughed at you. Don’t get me wrong: I have always enjoyed the tax community on Twitter. But 2020 was different. It was a year that was more than sharing links to IRS Revenue Rulings and pending legislation: it was a year when the tax community came together to ask not only how we could help taxpayers, but each other. Twitter streams weren’t just filled with news, links, and best practices focused on tax, but also practice hacks, spaces to vent, and much needed words of encouragement.

From the extension of federal and state tax deadlines due to the novel coronavirus pandemic to the partial exemption for global intangible low-taxed income, tax professionals have much to be thankful for this Thanksgiving.

In this episode, I speak with Professor Francine J. Lipman, the William Boyd Professor of Law at William Boyd Law School at the Ê×Ò³| Â鶹´«Ã½Ó³»­.

Thousands of Americans see their tax returns audited every year — but it’s safe to say none have seen an audit go on as long as President Donald Trump’s.