The Tax Cuts and Jobs Act (TCJA), the tax reform legislation passed in December 2017, doubled the maximum Child Tax Credit, boosted income limits to be able to claim the credit, and revised the identification number requirement for 2018 and subsequent years. The new law also created a second smaller credit of up to $500 per dependent aimed at taxpayers supporting older children and other relatives who do not qualify for the Child Tax Credit.
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A little known but highly impactful rule is taking place in 2024 that most businesses are not aware of. The Corporate Transparency Act requires that nearly all companies report their beneficial owners
With 2022 quickly coming to an end, the time has come to prepare for the upcoming tax filing season and consider any last-minute moves to help put you in the best position possible. April 18, 2023 is
The 2017 Tax Cuts & Jobs Act (TCJA) is still in effect for 2020 returns, but a flurry of legislation will make your tax returns a little more complicated. The Internal Revenue Service will not begin p