President Biden’s $3,600 Child Tax Credit Through 2025
Families are getting a bigger and better child tax credit for 2021. And, if President Biden gets his way, most of the credit enhancements will continue to be available for several more years while full refundability of the credit will be permanent. Thanks to the American Rescue Plan, which was…
Monthly Payments of the 2021 Child Tax Credit Will Begin in July
After doubts about whether it was up to the task, the IRS says it's on schedule to start sending monthly child tax credit payments this summer. The American Rescue Plan offers American families a bigger and better child tax credit for 2021. For this year only, the credit amount for…
10 Quick Tips for Your 2020 Taxes
Are dollars, documents and deductions on your mind this month? Even if you trust your tax preparation to a professional, here are some tips that are particularly relevant given the changes that have taken place over the past year. Perhaps some of them are pertinent to you. You get an…
New Exclusion of up to $10,200 of Unemployment Compensation
To help taxpayers, the Internal Revenue Service announced today that it will take steps to automatically refund money this spring and summer to people who filed their tax return reporting unemployment compensation before the recent changes made by the American Rescue Plan. The legislation, signed on March 11, allows taxpayers…
