IRS

Employers who are filing Form 7200, Advance Payment of Employer Credits Due to COVID-19 should read the instructions carefully and take their time when completing this form to avoid mistakes. Using a reputable tax preparer – including certified public accountants, enrolled agents or other knowledgeable tax professionals –...

This is the second of two tax tips providing an overview of ways the American Rescue Plan may affect some people’s 2021 taxes. Part 1 is available on IRS.gov. Changes expanding EITC for 2021 and beyond   New law changes expand the EITC for 2021 and future years....

This is the first of two tax tips providing an overview of how the American Rescue Plan may affect some individual’s 2021 taxes. Child and dependent care credit increased for 2021 only   The new law increases the amount of the credit and the percentage of employment-related expenses...

WASHINGTON —The Internal Revenue Service reminds everyone that May included National Hurricane Preparedness Week and was also National Wildfire Awareness Month. Now is a good time to create or review emergency preparedness plans for surviving natural disasters. In the last year, the Federal Emergency Management Agency...