The Internal Revenue Service recently awarded $41 million in Tax Counseling for the Elderly (TCE) and Volunteer Income Tax Assistance (VITA) grants to organizations that provide free federal tax return preparation.
2023 Tax Counseling for the Elderly and Volunteer Income Tax Assistance Program Grants Read More »
Child Tax Credit The Division is introducing a new Child Tax Credit that reduces any tax owed and can result in an increased refund for a taxpayer. Beginning in Tax Year 2022, resident taxpayers with taxable income of $80,000 or less may qualify for a credit of a set amount for each child age 5
The Internal Revenue Service reminds families that some taxpayers who claim at least one child as their dependent on their tax return may not realize they could be eligible to benefit from the Child Tax Credit (CTC).
2021 Child Tax Credit Read More »
No matter how much people plan, unexpected events occur. Often, those events result in unplanned expenses. To cover these costs sometimes people, withdraw funds from their retirement savings early.
Considering Early Withdraws from Retirement Funds? Read More »
The Internal Revenue Service reminds taxpayers earning income from selling goods and/or providing services that they may receive Form 1099-K, Payment Card and Third-Party Network Transactions, for payment card transactions and third-party payment network transactions of more than $600 for the year.
Providers to Receive 1099-Ks for Sales Over $600 in Early 2023 Read More »