IRS Recognizes Small Business Week: Resources Available to Help Employers

This article was published by the IRS. During National Small Business Week, the Internal Revenue Service wants small business owners to know that information and resources to help them understand and meet their tax obligations are available free at IRS.gov. Small businesses play a pivotal role in our nation's economy. The IRS has a variety of [...]

Here’s Who Will Get Advance Payments of the Child Tax Credit

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 [...]

IRS Economic Impact Payments and the Recovery Rebate Credit

The 2020 Recovery Rebate Credit was paid in advance to most people in the first two rounds of Economic Impact Payments. If you're like most people who were eligible, you've already received the full amount. If you received the full amount for the first two Economic Impact Payments, do not include any information about your payments [...]

Child Tax Credit and Credit for Other Dependents

This video was published by the IRS. Many parents claim the Child Tax Credit to help with the cost of raising children. The credit can be $2000 per qualifying child. This credit applies if: The child is younger than 17 at the end of the tax year. You claim the child as a dependent. The child [...]

Child Tax Credit and Credit for Other Dependents

Many parents claim the child tax credit to help with the cost of raising children. This year the credit may help even more parents because the income limit for those who qualify has increased to $400,000 for married couples filing jointly and $200,000 for all other filers. Also the credit amount for each [...]

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