by taxPRO Websites Staff | Oct 5, 2021 | Tax Tips and News
Much has been made recently of the Child Tax Credit. And what’s not to like? This refundable credit could be worth thousands of dollars in refund and recent legislation allows advance payments to qualified taxpayers. But what if a taxpayer’s dependents just don’t...
by taxPRO Websites Staff | Oct 4, 2021 | Tax Tips and News
Recent changes in the tax regulations to help ease the burdens of the pandemic could lead to lower tax bills at filing time for some Americans. The new benefits allow taxpayers who do not itemize to take advantage of donations to charity—at least for a while. The...
by taxPRO Websites Staff | Oct 4, 2021 | Tax Tips and News
The American job market is a changing landscape these days. A year ago, the big push was to retain workers in the midst of the COVID-19 pandemic. Now the need is to find new workers to staff a growing economy. To help do just that, the Internal Revenue Service points...
by taxPRO Websites Staff | Oct 4, 2021 | Tax Tips and News
Taxpayers now know the private firms that could come calling to collect tax debt after September 23, 2021. This latest announcement from the Internal Revenue Service marks the fifth year the agency has used private debt collectors for overdue taxes. Which private...
by taxPRO Websites Staff | Oct 4, 2021 | Tax Tips and News
Farmers and ranchers hard-hit by drought in parts of the U.S. have gotten a little help from the Internal Revenue Service. While the IRS couldn’t make it rain, it did give affected producers an additional year to replace livestock and defer tax from any forced sale of...
by taxPRO Websites Staff | Oct 4, 2021 | Tax Tips and News
The Internal Revenue Service is instituting a user fee for estates seeking an estate tax closing letter. At the same time, however, the agency is reminding estates there’s another path that avoids the fee altogether. The new user fee—a $67 charge for providing a...
