Paid leave credit available for providing leave to employees caring for individuals obtaining or recovering from a COVID-19 immunization
By Admin | Blog, Tax Reform | 0 Comments
IR-2021-160, July 29, 2021 WASHINGTON — The IRS today updated frequently asked questions (FAQs) on the paid sick and family leave tax credits under the American Rescue Plan Act of 2021 (ARP). The updates clarify that eligible employers can claim the credits for providing leave to employees to accompany a family or household member or […]
Read More IRS: Monthly Child Tax Credit payments begin
By Admin | Blog, Tax Reform | 0 Comments
IR-2021-153, July 15, 2021 WASHINGTON — The Internal Revenue Service and the Treasury Department announced today that millions of American families have started receiving monthly Child Tax Credit payments as direct deposits begin posting in bank accounts and checks arrive in mailboxes. This first batch of advance monthly payments worth roughly $15 billion reached about […]
Read More IRS readies nearly 4 million refunds for unemployment compensation overpayments
By Admin | Blog, Tax Reform | 0 Comments
IR-2021-151, July 13, 2021 WASHINGTON — The Internal Revenue Service announced today it will issue another round of refunds this week to nearly 4 million taxpayers who overpaid their taxes on unemployment compensation received last year. The American Rescue Plan Act of 2021, which became law in March, excluded up to $10,200 in 2020 unemployment […]
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