Last July, approximately 36 million of qualified families began receiving the first of six monthly payments for the Advance Child Tax Credit (CTC). As part of the President’s American Rescue Plan Act, the CTC had been raised to $3,600 per child under age 6 and $3,000 per child between 6 and 17 years of age. […]
Insights
This year, Tax Day is Monday, April 18, 2022, for most of the United States. (Maine and Massachusetts residents have until April 19 to file federal returns since April 18 is Patriot’s Day in those two states.) If you need additional time to file your 2021 taxes, please let us know as soon as possible. […]
Trading in cryptocurrency (also called “virtual currency” or “digital currency”) has risen exponentially in recent years. As it has become more common, it has also grown bigger on the IRS’ radar screen. For the second year in a row, Form 1040 (pictured below) includes a question about cryptocurrency at the top of the first page. […]
After nearly two years of the pandemic, business has changed. The “new normal” has primarily been shaped by the simple need to protect ourselves and others from the threat of Covid-19. But leading businesses have seen this as an opportunity to do things better than before, especially when using technology. As a result, how we […]
Nearly two years into the Covid-19 pandemic, working from home has become the new “normal” for many people, and it has largely been a boon for employers and employees alike. We understand the challenges of remote working and how that can create complications when filing your taxes, particularly for long-distance telecommuters who work in one […]
Dear Clients & Friends, If you’re a small business owner, we understand that you have many demands on your time and resources now more than ever. As we help you plan ahead for 2022 and beyond, we want to make you aware of significant changes to the required Illinois Secure Choice Retirement Savings Program (Secure Choice), a state-administered retirement savings plan. What Is Secure Choice? First rolled out […]