Key Tax Considerations You Should Be Aware Of

By now, we’re in full swing under new tax laws. The Tax Cuts and Jobs Act (TCJA) was signed into law at the end of 2017, with taxpayers seeing the real effects when they filed their returns in 2019. This legislation has made a profound impact on many taxpayers and has created new planning opportunities. Here [...]

Employers Who Provide Leave Might Qualify to Claim Valuable Credit

Employers who provide paid family and medical leave to their employees might qualify for a credit that can reduce the taxes they owe. It's called the employer credit for family and medical leave. Here are some facts about the credit to help employers find out if they might be able to claim it. To be eligible, [...]

Interactive Tool on IRS.gov Helps Taxpayers Get Answers to Their Tax Questions

The following article was published by the IRS. Tax questions can pop up any time of the year. When people need answers, they should start with Interactive Tax Assistant on IRS.gov. It’s a tool that provides answers to a many tax law questions. The taxpayer enters answers to a series of questions and the tool gives them a [...]

Have a Sunnier Tax Season with These Summertime IRS Tax Tips

The following article was published by the IRS. Buying a home? Working a summer job? Volunteering? Activities that are common in the summer often qualify for tax credits or deductions. And, while summertime and part-time workers may not earn enough to owe federal income tax, they should remember to file a return to get a refund for taxes [...]

Take Advantage of the New Child Tax Credit

Under pre-TCJA law, the child tax credit was $1,000 per qualifying child, but it was reduced for married couples filing jointly by $50 for every $1,000 (or part of $1,000) by which their Adjusted Gross Income (AGI) exceeded $110,000. (The threshold was $55,000 for married couples filing separately and $75,000 for unmarried taxpayers.) Starting in 2018, [...]