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Filing an inaccurate joint tax return can leave both spouses liable for penalties, interest, and back taxes, even after divorce, but the IRS offers Innocent Spouse Relief to protect an unaware spouse from unfair tax burdens.
IRS tax audits can be daunting and can be unpredictable. Learn more as we talk about the tax audit process, including how long it typically takes & what to expect during each stage of the audit.
Ohio recently made one of its most dramatic-ever changes to real estate tax valuation law. For years, school districts have been able to aggressively pursue tax valuation complaints to fight for more tax dollars. On July 21, 2022, a new law became effective that significantly limits school districts’ abilities to pursue tax valuation complaints.
The American Rescue Plan Act of 2021 (ARPA), signed by President Biden on March 11, 2021, is the latest major legislation that provides economic relief and stimulus, both tax and non-tax, during the Covid-19 pandemic.Below are brief summaries of the key aspects of the tax provisions in ARPA.
I am writing to let you know about improvements made by the American Rescue Plan Act (ARPA) to the child and dependent care tax credit for the 2021 tax year, i.e., the credit available for expenses a taxpayer pays for the care of qualifying individual(s) under the age of 13 so that the taxpayer can be gainfully employed.
I am writing to let you know about the significant enhancements made to the child tax credit (CTC) by the American Rescue Plan Act of 2021 (ARPA). These enhancements temporarily expand the eligibility for, and the amount of, the child tax credit (CTC) for tax years beginning in 2021 and require IRS to make monthly advance payments of the credit to taxpayers in July through December of 2021.Under pre-ARPA law, the CTC was $2,000 per "qualifying child."
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