Relief for Employers Claiming the Work Opportunity Tax Credit
The Internal Revenue Service announced it is providing transition relief to certain employers claiming the Work Opportunity Tax Credit (WOTC).
The Advance Child Tax Credit Payments
The advance child tax credit allows qualifying families to receive early payments of the tax credit many people may claim on their 2021 tax return during the 2022 tax filing season.
Making 2021 Estimated Tax Payments
Small business owners, self-employed people, and some wage earners should look into whether they should make estimated tax payments this year.
Understanding IRAs
Individual Retirement Arrangements, or IRAs, provide tax incentives for people to make investments that can provide financial security for their retirement.
Guidance for Employers Claiming the Employee Retention Credit
The IRS issued further guidance on the Employee Retention Credit. This includes guidance for employers who pay qualified wages after June 30, 2021, and before January 1, 2022, and guidance on miscellaneous issues that apply to the employee retention credit in both 2020 and 2021.
Protect Yourself From Scammers
Taxpayers Can Protect Themselves From Scammers by Knowing How the IRS Communicates
The Forgotten Piece of Disaster Preparedness
After a natural disaster, having access to personal financial, insurance, medical and other records can help people starting the recovery process quickly.
Repaying Deferred Social Security Tax
The Coronavirus Aid, Relief, and Economic Security Act allowed self-employed individuals and household employers to defer the payment of certain Social Security taxes on their Form 1040 for tax year 2020 over the next two years. Half of the deferred Social Security tax is due by December 31, 2021, and the remainder is due by …
IRS 2021 Dirty Dozen Scams
The Internal Revenue Service today concludes the “Dirty Dozen” list of tax scams with a warning to taxpayers to watch out for schemes peddled by tax promoters, including syndicated conservation easements, abusive micro-captive insurance arrangements and other abusive arrangements.
Payments for Deferred Tax Reported by Third Party Payers
The Coronavirus, Aid, Relief and Economic Security Act – CARES Act – allowed employers to defer the deposit and payment of the employer’s share of Social Security taxes and self-employed individuals to defer payment of certain self-employment taxes.