https://.irs.gov/credits-deductions/2021-child-tax-credit-and-advance-child-tax-credit-payments-frequently-asked-questions… Read More

Qué deben saber los empleadores al clasificar a un trabajador como empleado o contratista independiente Para los dueños de negocios, es importante determinar correctamente si las personas que proveen los servicios son empleados o contratistas independientes. Por lo general, usted como empleador tiene que retener impuestos sobre los ingresos, retener y pagar impuestos del Seguro… Read More

Tax relief now available to Ida victims in Pennsylvania; Oct. 15 deadline, other dates extended to Jan. 3, 2022 WASHINGTON — Victims of Hurricane Ida in parts of Pennsylvania now have until Jan. 3, 2022, to file various individual and business tax returns and make tax payments, the Internal Revenue Service announced today. The IRS… Read More

Employer Identification Number An Employer Identification Number , also known as a Federal Tax Identification Number is a must-have for a business. Applying for an EIN can be done online for free using an interview style application offered by the IRS. Five Things to Know about the EIN is a video that helps explain why it is critical the IRS has… Read More

All taxpayers have the right to challenge the IRS’s position and be heard Taxpayers have the right to challenge the IRS’s position and be heard. This is part of the Taxpayer Bill of Rights, which clearly outlines the fundamental rights every taxpayer has when working with the IRS. Taxpayers have the right to: • Raise objections. • Provide… Read More

The IRS has launched a new online tool  designed to help families determine whether they qualify for the Child Tax Credit and the special monthly advance payments of the credit. To help people understand and receive this benefit, the IRS has developed materials in several languages, and additional multilingual resources will roll out in coming… Read More

The IRS and the Treasury Department announced that millions of American families have started receiving monthly Child Tax Credit payments, as direct deposits begin posting in bank accounts and checks arrive in mailboxes. This first batch of advance monthly payments worth about $15 billion will reach about 35 million families across the country. The payments will… Read More

Here’s what taxpayers need to know about paying taxes on their hobby activities. Many people are engaged in hobby activities that are also a source of income. For example, some people started selling handmade items during the pandemic. These people must report this income on their tax return. A hobby is any activity that a person… Read More

IRS announces two new online tools to help families manage Child Tax Credit payments Child Tax Credit Eligibility Assistant helps families determine whether they qualify for Child Tax Credit payments Update Portal helps families monitor and manage Child Tax Credit payments  WASHINGTON — The Internal Revenue Service today launched two new online tools designed to… Read More

t’s important for taxpayers to understand how selling their home may affect their tax return. When filing their taxes, they may qualify to exclude all or part of any gain from the sale from their income. Here are some key things homeowners should consider when selling a home: Ownership and use To claim the exclusion, the taxpayer… Read More