IRS OVERVIEW AMERICAN RESCUE PLAN
IRS overview american rescue plan. Prior to taxable year 2021, the child tax credit was worth $2000 per eligible child. The new law increases it to as much as $3000 per child for dependents ages 6 through 17, and $3600 for dependents ages 5 and older. The maximum credit is available to taxpayers with a […]
SUPREME COURT LETS HEALTH LAW STAND
Supreme Court lets health law stand. In our ongoing coverage of cases related to either tax issues, or Tax Court, we look at a case the U.S. Supreme Court ruled on recently. Tax Resolution Services sometimes spill over into the need for Tax Court Representation. The court ruled that several states and other plaintiffs that […]
AMERICAN RESCUE PLAN PART THREE
American rescue plan part three. Multiple provisions of the American Rescue Plan have been discussed, as the tax provision has many aspects. The law was passed in response to the Covid pandemic, and it represents efforts to confront the economic fallout from the health crisis. Taxpayers who, for 2020, purchased health insurance through a federal […]
HELPING THOSE WITHOUT AN ADDRESS
Helping those without an address. The IRS is urging community groups, employers, and others to share information about those without a permanent address, so they may qualify for the Child Tax Credit and any other Tax Credits they may be eligible for. Other programs designed for homeless people, and other programs designed to serve the […]
IRS ONLINE TOOL FOR LOW INCOME FAMILIES
IRS online tool for low income families. The Treasury Department and the Internal Revenue Service have a new online Non-filer tool sign up tool designed to help eligible families who don’t normally file tax returns register for the monthly Advance Child Tax Credit payments scheduled to begin July 15. This tool, an update of last […]
