The American Rescue plan signed in March, 2021 requires the IRS to pay out one half of enhanced Child Tax Credits (CTC) to eligible taxpayers beginning this month. If you or someone you know have children, here’s what you need […]
The American Rescue Plan Act of 2021 (ARPA) retroactively excluded up to $10,200 in unemployment compensation per taxpayer paid in 2020. Since this new law was signed after some tax returns had already been filed, some people who received unemployment […]
Tax-advantaged accounts like 401(k)s and IRAs are convenient ways to save for your retirement. These types of accounts allow to you defer paying taxes on the amount you save until you start withdrawing your savings. The government does want to […]
The American Rescue Plan signed by President Biden in March 2021 made significant changes to the Child Tax Credit (CTC). These changes expand the CTC to cover roughly 39 million households, covering 88% of children in the United States, and […]
In response to the pandemic that has affected us all, several temporary changes were made to the rules that govern our tax obligations. Many of these temporary changes are due to expire in 2021, so you may need to adjust […]
The U.S. Small Business Administration launched the registration portal for the $28.6 billion Restaurant Revitalization Fund (RRF) on April 23, and is now accepting applications for the program. Restaurants and other food providers hard-hit during the COVID-19 pandemic have been […]
On March 17, the IRS announced that the federal income tax filing deadline for individuals will be automatically extended from April 15, 2021 to May 17, 2021. However, if you will be receiving a refund, you are encouraged to file […]
On March 11, President Biden signed into law the American Rescue Plan, which aims to provide additional relief to Americans that are struggling due to the ongoing COVID-19 pandemic. As part of this relief, up to $10,200 in unemployment compensation […]
The IRS has announced that they have finished making all first and second rounds of Economic Impact Payments. These Economic Impact Payments (commonly known as “stimulus payments”) were mandated by law to be paid to U.S. citizens and resident aliens, […]
On February 22, 2021, the Biden administration announced a new exclusive Paycheck Protection Program (PPP) loan application period for businesses and non-profits with fewer than 20 employees. This application period began on February 24, 2021 and lasts for 14 days. […]