by Admin | Jul 12, 2021 | Individual Taxes
Do you own a second home at the beach, in the mountains, or some other getaway location, or are you thinking about buying one? If so, then you may have thought about the possibility of renting it out. Though many people would never consider inviting renters into their...
by Admin | Jul 9, 2021 | Individual Taxes
If you are recently divorced or are contemplating divorce, you will have to deal with or plan for significant tax issues such as asset division, alimony, and tax-return filing status. If you have children, additional issues include child support; claiming of the...
by Admin | Jun 24, 2021 | Individual Taxes
Congress has made substantial changes to the child tax credit (CTC) for 2021. The CTC has been increased to as much as $3,000 per child ages 6 through 17 at the end of 2021, and$3,600 per child age 5 and under at the end of 2021. For taxpayers who have their main...
by Admin | Jun 23, 2021 | Individual Taxes
We highly recommend that our clients with children who might receive these funds, unenroll from receiving the monthly payments. Tax projections made during the preparation of the 2020 tax return already took into account the child tax credit in the calculation....
by Admin | Jun 21, 2021 | Individual Taxes
The IRS is reporting that it is resuming “certain collection and enforcement processes that had been suspended because of the coronavirus pandemic.” On June 15, 2021, this process kicked off as the IRS started contacting taxpayers who have not responded to prior...
by Admin | Jun 18, 2021 | Individual Taxes
You are not alone. We have been hearing from clients who are still waiting on refunds from returns filed early in the year. In normal times, unless there is an error, the IRS will issue most refunds in less than 21 calendar days. However, 2021 is far from being a...
