Work Search Requirement Reinstated As of May 30, 2021, the Unemployment Insurance Agency (UIA) has reinstated work search requirements for unemployment benefits claimants. The requirement to search for work in…
Category: Taxes
2021 Child Tax Credit & Advanced Payments
Under the American Rescue Plan Act (ARPA), P.L. 117-2, the IRS must make 2021 periodic advance child tax credit payments to taxpayers up to the “annual advance amount.” These payments…
Tax Effects of the American Rescue Plan Act
In addition to the $1,400 stimulus payments to many Americans, the American Rescue Plan Act provides many other relief measures, and also some new business tax measures, that should be…
Is My Stimulus Payment Taxable?
As millions of people have received stimulus checks over the past year and start to spend their money, some wonder: Is my stimulus payment taxable? The short answer: No. In…
Highlights of the New Covid Stimulus Law
Stimulus checks are just part of it. Also: more unemployment, PPP, EIDL loans, Employee Retention Credit, EIC, CTC, Eviction moratorium, and more.Tax Practice Advisor The Coronavirus Response and Relief Supplemental…
IRS Reminds Taxpayers of Special $300 Charity Deduction without Itemizing
The CARES Act includes several temporary tax changes helping charities, including the special $300 deduction designed especially for people who choose to take the standard deduction, rather than itemizing their…