Tax credits

The Internal Revenue Service revised its answers to frequently asked questions on the Child Tax Credit, adding a new set of six commonly asked filing season questions.

The lobbying comes as Democrats and the White House work to advance a new version of the so-called Build Back Better Act.

Americans who have put off their 2021 taxes have less than a week to file a return or an extension — and fill them out accurately to avoid trouble from the IRS.

The service updated its FAQ on the credit, with additional information on receiving it on a 2020 tax return.

From staffing problems and clueless clients to Child Tax Credit issues and IRS backlogs, the top problems practitioners are facing in the run-up to April 15.

The House overwhelmingly passed legislation that would expand the tax benefits for retirement accounts to bolster the savings of Americans.

And as many as 644,000 eligible taxpayers may not have gotten their checks, according to a new TIGTA report.

Americans are still benefiting from a raft of pandemic relief measures that are contributing to the biggest tax refunds seen at this point in the filing season in more than a decade.

Lawmakers are asking the Internal Revenue Service to expedite the processing of Employee Retention Tax Credits and not to penalize small businesses for incorrectly paying their estimated quarterly taxes as they await their claims.

The service updated its FAQ on the Child Tax Credit on Tuesday with new information on eligibility and how to calculate the amount of the credits and payments.

While the Biden administration’s Build Back Better Act remains stalled in the Senate, lawmakers may be able to advance some parts of the legislation, including tax credits for electric vehicles, solar panels and home energy efficiency that have wide appeal to voters.

The Internal Revenue Service has released more information on tax credits available for paid sick and family leave under the American Rescue Plan Act of 2021.

The Internal Revenue Service posted a set of answers Wednesday to frequently asked questions on the Earned Income Tax Credit.

The Employer-Provided Child Care Credit can save employers with eligible expenses more money in taxes than using a deduction alone, and it also helps employees, according to a new report.

The Internal Revenue Service updated its frequently asked questions page on the Premium Tax Credit for subsidizing health insurance coverage under the Affordable Care Act.

If you thought last tax season was challenging, brace yourself.

Tax professionals and their clients are dealing with extra challenges this tax season from tax breaks that ended last year and haven’t yet been extended, including the enhanced Child Tax Credit.

Here’s how to save clients money while staying off the IRS ‘Dirty Dozen’ list.

The Internal Revenue Service issued new guidance for taxpayers and tax practitioners submitting claims for refunds involving the research credit.

Democrats are risking the ire of voters inflamed by this year’s tax-filing season, as the stalling of President Biden’s economic package leaves them without promised benefits.