The arrival of the 2022 tax season will introduce taxpayers to several new changes. While income tax rates are remaining the same, as they have since 2018, the brackets into which each individual or married filing jointly taxpayer falls may not be the same as it was...
If you received Letter 6419 in the mail, then you are likely eligible for further child tax credits from the IRS in 2022. Many families received half of the newly expanded child credit payments in the previous year. But the rest of the payments will be going out...
Taxpayers will be facing uncommon challenges this year. Job losses have impacted the finances of American taxpayers at an unprecedented rate, with an estimated 9.6 million people between the ages of 15 and 64 having lost their jobs. Economic Impact Payments, more...
A prepaid college savings plan is an education savings plan that allows you to save for your child’s college education costs. It’s a type of 529 plan, the name of which comes from section 529 of the Federal Tax Code; 529 savings plans allow an account holder to buy...
Do you like paying more in taxes than you have to? Not many people do. Most people have what is called a tax liability, which is “the total amount of tax debt owed by an individual, corporation, or other entity to a taxing authority such as the Internal Revenue...
Are you wondering how the 2021 tax code impacts your charitable donations? According to the IRS, “Recent legislation includes several provisions to help individuals and businesses who give to charity.” Through the end of 2021, the new law offers four temporary tax...
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