Tag Archive for: internal revenue services
Unemployment Benefits Were Tax-Free In 2020. Don’t Expect That In 2021
It's unlikely that lawmakers will decide to let those collecting jobless benefits in 2021 forego paying taxes. Anyone receiving those benefits now should plan to pay the IRS a portion of that money. CLICK ON THE HEADLINE FOR MORE
2021 Child Tax Credit: Why Some Families Are Opting Out
On July 15, the IRS will begin sending families monthly payments of up to $300, but some may have to repay. To avoid repaying the credit later, some families are opting out of the advance payments. CLICK ON THE HEADLINE FOR MORE
Estate Tax Changes May Be Coming… Are You Ready?
The estate planning world is abuzz right now because President Biden is trying to do away with these favorable estate tax laws in an attempt to reduce his perceived economic inequality amongst Americans. In a nutshell, more families would have taxable estates under Biden’s plan. CLICK ON THE HEADLINE FOR MORE
May 17th Was Tax Day And The Tax Extension Deadline: What To Know About Filing Late, IRS Penalties
Tax Day was Monday, May 17th! Here are some things to know if you filed an extension. CLICK ON THE HEADLINE FOR MORE
Looking For Deductions On Your Taxes? A Tax Expert Has Some Advice
Looking back in the past year for any chances of deductions? A principal tax research analyst gives some advice on what to expect. CLICK ON THE HEADLINE FOR MORE
Preparing Taxes Sooner Than Later Could Prevent An Unwanted Surprise If You Claimed Unemployment
People who did not and are not withholding taxes from their unemployment checks could be in for a big surprise when they file taxes this year. You could be paying the IRS as much as 25% of your total unemployment payments. CLICK ON THE HEADLINE FOR MORE