Category: Tax Central

Article Highlights: The refund statute expires on May 17, 2021 for unfiled 2017 returns.  Unfiled returns will lose out on refundable credits.  Refunds may be

Article Highlights: Changing Filing Status  Liability  Community Property States  Social Security Benefits  Capital Loss Limitations  Sec 179 Business Expensing Election Rental Loss Limitation  Traditional IRA

Article Highlights: Education Benefits  Education, Teachers and Educators  Child Tax Credit  Child & Dependent Care Tax Credit  Earned Income Tax Credit for Childless Workers  Paid

Article Highlights: American Rescue Plan Act  Unemployment Income Exclusion  Early Filers  IRS Automatic Adjustment  Refund Schedule  Method of Payment   Refund Offsets  Potential Need for Amended

Article Highlights: Filing Status  Claiming the Children as Dependents  Child Exemption  Head-of-Household Filing Status  Tuition Tax Credit  Child Care Tax Credit  Child Tax Credit  Earned

Article Highlights Slow Refunds  COVID-19  Economic Impact Payments  Recovery Rebates  Unemployment Debacle  Using 2019 Income to Compute 2020 EITC and Additional Child Tax Credit  Other

The June 15 due date for American citizens and resident aliens living in another country to file their U.S. tax return is here! If you

Article Highlights: Child and Dependent Care Credit  Workers Can Set Aside More in a Dependent Care FSA  Childless EITC Expanded  Changes Expanding EITC for 2021

Article Highlights: Purchase of Items at Charity Auction  Auction Donor  Appreciated Property  Fair Market Value (FMV)  Unrelated Use  Contributions of “Use”  It is common practice

Article Highlights: IRS Resuming Collection & Enforcement Activities  IRS Has Started Contacting Taxpayers Who Have Not Responded to Prior Notices.  Taxpayers Not Responding Could be