Earned Income Tax Credit
Millions of workers qualify for the Earned Income Tax Credit for the first time due to changes like the birth of a child. Visit IRS.gov/eitc for more details.
New Voluntary Disclosure Program Lets Employers who Received Questionable Employee Retention Credits Pay Them Back at Discounted Rate GalleryNew Voluntary Disclosure Program Lets Employers who Received Questionable Employee Retention Credits Pay Them Back at Discounted Rate
Employee Retention Payroll Tax Credit, IRS, Self-Employed, Small Business, Tax Credits, Tax Relief, Tax Tips, Taxes
New Voluntary Disclosure Program Lets Employers who Received Questionable Employee Retention Credits Pay Them Back at Discounted Rate
This article was published by the IRS. As part of an ongoing initiative aimed at combating dubious Employee Retention Credit (ERC) claims, the Internal Revenue Service has launched a new Voluntary Disclosure Program to help businesses who want to pay back the money they received after filing ERC claims in error. The new disclosure program, which [...]
Common but Costly Errors Employers Should Avoid When Filing Taxes or Claiming Credits
This article was published by the IRS. Employers filing employment tax returns and claiming an employer tax credit should read the instructions for Form 941 and carefully complete the form to avoid mistakes. Using a reputable tax preparer including a certified public accountant, enrolled agent or other knowledgeable tax professional can also help avoid errors. Mistakes [...]
College Students Should Study Up on These Two Tax Credits
This article was published by the IRS. Anyone pursuing higher education, including specialized job training and grad school, knows it can be pricey. Eligible taxpayers who pay higher education costs for themselves, their spouse, or dependents in 2023 may be able to take advantage of two education tax credits. The American opportunity tax credit and the [...]
Pop Quiz! Do You Qualify for an Education Tax Credit?
Class is in session! It's time to learn how education tax credits can help pay for higher education. There are two education tax credits that can help offset the cost of higher education: the American Opportunity Tax Credit and the Lifetime Learning Credit. These can help if you're heading to college, getting specialized job training, or [...]