June 15, 2021
The Treasury Department and the Internal Revenue Service have unveiled an online Non-filer 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 ...
June 8, 2021
The Internal Revenue Service reminds taxpayers who pay estimated taxes that they have until June 15 to pay their estimated tax payment for the second quarter of tax year 2021 without penalty.
June 8, 2021
The Internal Revenue Service has started sending letters to more than 36 million American families who, based on tax returns filed with the agency, may be eligible to receive monthly Child Tax Credit payments starting in July.
May 27, 2021
Under the Internal Revenue Code, the rate of interest is determined on a quarterly basis. For taxpayers other than corporations, the overpayment and underpayment rate is the federal short-term rate plus 3 percentage points.
May 17, 2021
Roughly 39 million households—covering 88% of children in the United States—are slated to begin receiving monthly payments without any further action required.
May 14, 2021
The Internal Revenue Service will begin issuing refunds this week to eligible taxpayers who paid taxes on 2020 unemployment compensation that the recently-enacted American Rescue Plan later excluded from taxable income.
April 24, 2021
Homeless Americans who don’t have a permanent address or a bank account may still qualify for the Coronavirus stimulus payments, also known as Economic Impact Payments, and other tax benefits, according to the IRS.
April 22, 2021
With the Dec. 27, 2020, enactment of the Consolidated Appropriations Act, 2021, businesses now may claim these deductions even though they received PPP loans to cover original eligible expenses. These businesses can use the safe harbor provided by this...
March 31, 2021
Because a change in the taxability of unemployment benefits was made into law after some people filed their taxes, the IRS will automatically calculate the amount those taxpayers should be refunded, starting in May.
March 31, 2021
The IRS will take steps to automatically refund money this spring and summer to people who filed their tax return reporting unemployment compensation before the recent changes made by the American Rescue Plan.
March 31, 2021
The Internal Revenue Service has issued frequently asked questions on how students and higher education institutions should report pandemic-related emergency financial aid grants.
March 30, 2021
Payments will begin to be issued this weekend to Social Security recipients and other federal beneficiaries who do not normally file a tax return, with the projection that the majority of these payments would be sent electronically and received on April 7