by Corie DuChateau | Mar 13, 2022 | Blog, Tax Updates
The IRS is still dealing with an enormous backlog left over from Covid shutdowns. This is causing long phone hold times for taxpayers who call the IRS with questions, as well as tax preparers who call the IRS on behalf of their clients. The IRS in Crisis The IRS...
by Corie DuChateau | Mar 11, 2022 | Blog, Tax Updates
Here’s what to know if you received child tax credit payments, collected unemployment, or had student loans forgiven in 2021. Every year there’s a long list of tax changes that can affect the bottom line of your tax return and, it’s no surprise, that last year...
by Corie DuChateau | Jan 20, 2022 | Blog, Tax Updates
As part of the 2021 American Rescue Plan, which went into effect on Jan. 1, 2022, the threshold for reporting income on IRS Form 1099-K has been lowered to $600. IRS Form 1099-K is used to report goods and services payments received by a business or individual. ...
by Corie DuChateau | Nov 5, 2021 | Blog, Tax Updates
The IRS published their IRS Tax Tips newsletter this week, reminding taxpayers about some common tax scams and how to avoid them. The newsletter included information about email phishing scams and phone scams. A summary of the newsletter is posted below, or you can...
by Corie DuChateau | Jul 15, 2021 | Blog, Expat, Tax Updates
On July 15, the Internal Revenue Service sent the first of six advance payments to parents of children 17 years and younger as part of the Expanded Child Tax Credit for 2021. In March, Congress expanded the Child Tax Credit to as much as $3,600 per child for the...
by Corie DuChateau | Jul 1, 2021 | Blog, Tax Updates
New IRS Non-filers Tool to Request Child Tax Credit Advance Payments and Economic Impact Payments Recent changes to the Child Tax Credit mean that many families will be eligible for Advance Child Tax Credit payments starting on July 15, 2021. The IRS will pay half...
