This article was published by the IRS. Employers who are filing Form 7200, Advance Payment of Employer Credits Due to COVID-19 should read the instructions carefully and take their time when completing this form to avoid mistakes. Using a reputable tax preparer – including certified public accountants, enrolled agents or other knowledgeable tax professionals – can also help [...]
This article was published by the IRS. The IRS recently upgraded the Child Tax Credit Update Portal to enable families to update their bank account information so they can receive their monthly Child Tax Credit payment. The tool also allows families to unenroll from the advance payments if they don't want to receive them. The Update [...]
Beginning July 8, 2021, and until September 30, 2021, or the exhaustion of $75 million in program funds as determined by the Commonwealth, employers may apply for reimbursement of the costs of providing emergency paid sick leave. This video will walk you through the application process for reimbursement of the costs of providing emergency paid sick [...]
This article was published by the IRS. As a new school year approaches, students are considering what classes they need to take and how much the classes will cost. Whether it's community college, a trade school, a four-year university or an advanced degree, higher education is expensive. The good news is tax credits can help offset [...]
This article was published by the IRS. The Internal Revenue Service and the U.S. Department of the Treasury have announced that the first monthly payment of the expanded and newly-advanceable Child Tax Credit (CTC) from the American Rescue Plan will be made on July 15. Roughly 39 million households — covering 88% of children in the [...]
