Where’s Your Tax Refund? Use this Tool from the IRS to Find Out!
The most convenient way to check on a tax refund is by using the Where’s My Refund? tool. Taxpayers can start checking their refund status within 24 hours after an e-filed …
Most Families Will Automatically Receive Monthly Payments of the New Refundable Child Tax Credit
The IRS and the U.S. Department of the Treasury announced today that the first monthly payment of the expanded and newly-advanceable Child Tax Credit (CTC) from the American Rescue Plan …
IRS Begins Correcting Tax Returns for Unemployment Compensation Income Exclusion
From irs.gov: The Internal Revenue Service will begin issuing refunds this week to eligible taxpayers who paid taxes on 2020 unemployment compensation that the recently-enacted American Rescue Plan later excluded …
Coronavirus Tax Relief: Dependent Care Assistance Programs for 2021 & 2022
The IRS issued guidance on the taxability of dependent care assistance programs for 2021 and 2022, clarifying that amounts attributable to carryovers or an extended period for incurring claims generally …
Life After COVID-19: Which Types of Meals and Entertainment are Tax Deductible?
Have you missed partying and having business meals with your prospects, customers, and employees? Well, get ready to start again. Soon, COVID-19 will behind us. It could be just a …
What You Need to Know About Filing an Extension for Your 2020 Income Taxes!
Due to the ongoing COVID-19 pandemic, the IRS postponed the usual April 15 deadline for filing individual income tax returns to May 17, 2021. Even so, many people will still …
Some Tax Refunds are Being Delayed by the IRS.
The IRS is holding nearly 30 million tax refunds for manual processing. Recent COVID-19 relief legislation passed by Congress threw a monkey wrench into an already complicated year. Additionally, the …
Tax Credits are Available to Small Employers to Provide Paid Leave to Employees Receiving COVID-19 Vaccines
The Internal Revenue Service and the Treasury Department announced further details of tax credits available under the American Rescue Plan to help small businesses, including providing paid leave for employees …
There’s Less than a Month Left Before Your 2020 Income Taxes are Due. Don’t Miss Out on these Tax Credits!
For tax year 2021, Congress is giving away billions of dollars in additional tax credits on your Form 1040 individual tax return. These temporarily expanded tax credits include the child …
The Earned Income Tax Credit is Higher than Ever Before!
The earned income tax credit (EITC) has been around for years. But for some folks, it’s never been worth as much as it will be for 2021. That’s thanks to …