The American Rescue Plan (ARP) put some sweeping changes in place to help the U.S. tax code deal with the effects of the coronavirus pandemic. To help provide guidance to families and small business who might claim some of ARP’s major credits, the IRS has issued two sets of frequently asked questions or FAQs.… Read more about IRS Announces FAQs for Childcare and Paid Leave Credits (Feed generated with FetchRSS) – Story provided by TaxingSubjects.com…

The Internal Revenue Service says it sent out millions of additional American Rescue Plan (ARP) payments to taxpayers in just a two-week period, pushing the total number of payments issued under the new law to just under 170 million.… Read more about Nearly 170 Million American Rescue Plan Payments Sent So Far (Feed generated with FetchRSS) – Story provided by TaxingSubjects.com…

Congress has passed a number of coronavirus relief packages throughout the pandemic. While the three rounds of Economic Impact Payments are the most famous provision of those legislative efforts, they were technically an advance on the new Recovery Rebate Credit.… Read more about Millions of Taxpayers to Receive IRS Letter about the Advance Child Tax Credit (Feed generated with FetchRSS) – Story provided by TaxingSubjects.com…

It may seem that we just got through with the 2021 income tax season, but there’s already another tax deadline waiting in the wings.… Read more about Q2 Estimated Taxes Due June 15 (Feed generated with FetchRSS) – Story provided by TaxingSubjects.com…

Millions of Americans paid taxes on their unemployment compensation before learning that an exclusion was introduced by legislation a month into filing season. So, the Internal Revenue Service is now sending some of those taxpayers a refund to satisfy the new law.… Read more about IRS Refunding Tax Paid on Unemployment Compensation (Feed generated with FetchRSS) – Story provided by TaxingSubjects.com…

By most measures, 2021 is shaping up to be much better than 2020. The coronavirus appears to be less of a threat, the economy is beginning a comeback, and the American Rescue Plan is expanding some tax credits for parents and others with children.… Read more about American Rescue Plan Expands Credits for 2021 (Feed generated with FetchRSS) – Story provided by TaxingSubjects.com…