Payments for the new IRS Child Tax Credit are to begin July 15, 2021, but what is this type of credit, how has it changed, and how may it affect you? Will you receive the new Child Tax Credit, or should you opt out? While the COVID-19 pandemic continues to decline as vaccination programs pick …
It’s important to understand what the recovery rebate credit is, and how it may affect you. Here’s what you should know. Tax credits let you keep more money in your pocket come tax season – provided you’re eligible for them. The recovery rebate credit is available to all Americans who qualify for an economic impact …
Learn the ins and outs of the recent COVID-19 tax relief measures and how it may impact you and your company’s deferred payroll taxes. In 2020, the government rolled out several COVID-19 relief measures, including Economic Impact Payments and several forms of tax relief. One particular option that has received little love from businesses, …
With the rise of COVID-19, the United States has seen an increase in COVID related tax fraud. Here’s how to protect yourself from these scams. The IRS recently released a statement on the prevalence of COVID-19 related tax fraud, specifically text-based tax fraud scams that prey on people’s vulnerabilities by promising additional tax credits, economic …
*Last Updated January 6, 2021 The Paycheck Protection Program is aimed to keep workers on payroll during the current pandemic, but are PPP loans taxable? The Coronavirus Aid, Relief, and Economic Security (CARES) Act was passed by Congress and signed into law by President Trump on March 27, 2020, and aimed, among other things, to …
*Last Updated on March 23, 2021 When the coronavirus crisis first began, Congress responded by rolling out a number of bills aimed at providing financial aid to individual Americans as well as state and local governments, in order to help subdue the hemorrhaging effects of the virus on the American economy. One of these bills, …