Recent changes to the Child Tax Credit mean that more than 30 million households will begin receiving monthly payments this July without any further action. Eligible families will receive payments of up to $300 for each child younger than age 6 and up to $250 for each qualifying child ages six to 17. People will receive [...]
This article was published by the IRS. Now that most taxpayers have filed their federal tax returns, they're eager for details about their refund. When it comes to refunds, there are several common myths that can mislead taxpayers. Getting a refund this year means there's no need to adjust withholding for 2021. To help avoid a [...]
This article was published by the IRS. The Internal Revenue Service and the Treasury Department have announced further details of tax credits available under the American Rescue Plan to help small businesses, including providing paid leave for employees receiving COVID-19 vaccinations. The additional details, provided in a fact sheet, spell out some basic facts about the [...]
The IRS is committed to making sure there are resources available to help all taxpayers understand their tax obligations. IRS.gov has information for people who are not comfortable interacting in English. Many of the most-visited pages, forms, instructions, and interactive tools on IRS.gov are also available in Spanish. Additionally, taxpayers can find information in Russian, Haitian-Creole, [...]
This article was published by the IRS. The IRS has issued guidance for employers claiming the Employee Retention Credit under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) modified by the Taxpayer Certainty and Disaster Tax Relief Act of 2020 (Relief Act). Notice 2021-23 explains the changes to the Employee Retention Credit for the [...]
