Tag: tax credit

IRS Provides Tips that You Should Address Sooner Rather than Later

IRS Provides Tips that You Should Address Sooner Rather than Later

Aug 22, 2018
The IRS has recently published noteworthy tips that every taxpayer should know about and address ASAP. First, taxpayers with children or other dependents should perform a "paycheck checkup" using the Withholding…

Business Owners: The R&D Tax Credit Could Provide You with the Cash You Need Now

Apr 27, 2020
There’s no sugar coating it - we are in the midst of a global pandemic and likely recession. Times are tough for business owners and the catch phrase “cash is king” has never rung so true. If you are in…

Employee Retention Tax Credit Update: 3/3/2021

Mar 04, 2021
Following is new information about the Employee Retention Tax Credit (ERC).

American Rescue Plan Act – What You Need to Know

Mar 24, 2021
The House of Representatives passed the Senate-amended version of the American Rescue Plan Act. It is currently waiting on the President’s signature to turn the bill into law.

IRS provide additional guidance to employers claiming the employee retention credit

Aug 12, 2021
The Treasury Department and the Internal Revenue Service issued further guidance on the employee retention credit, including guidance for employers who pay qualified wages after June 30, 2021, and before January 1, 2022, and additional guidance on miscellaneous issues that apply to the employee retention credit in both 2020 and 2021.

Tax Credits for Going Green

Sep 15, 2021
These three federal tax credits may help defray part of the cost to make your home more energy efficient or to purchase a new plug-in vehicle.

New Higher Estate And Gift Tax Limits For 2022

Nov 29, 2021
The official estate and gift tax exemption climbs to $12.06 million per individual for 2022 deaths, up from $11.7 million in 2021, according to new Internal Revenue Service inflation-adjusted numbers. And the gift tax annual exclusion amount jumps to $16,000 for 2022, up from $15,000 where it’s been stuck since 2018.

IRS Mailing Letters in January to Recipients of the Advance Child Tax Credit

Jan 03, 2022
If you received advance child tax credit payments in 2021 you will receive Letter 6419 in the mail from the IRS this month, January 2022. It’s essential that you give this letter to your tax preparer when filing your 2021 return. The letter will include the total amount of advance payments you received in 2021 and your accountant may need to refer to this notice to claim the remaining child tax credit amount.

Energy Tax Credits and ESG

May 24, 2022
From electric vehicles to solar panels, “going green” can offer both environmental and financial benefits. With global conflicts and increased gas prices, now may be the time to explore reducing your carbon…