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The agency said this week that more than $1 billion in unclaimed refunds for tax filing year 2020 are sitting in its coffers, and that it's still possible for eligible filers to claim. Due to the ...
December 7, 2023 at 6:19 PM. The IRS is taking action against small businesses that improperly filed returns claiming a lucrative pandemic-era tax credit. The agency sent 20,000 correspondence ...
The Employee Retention Credit is a refundable tax credit against an employer's payroll taxes. [2] It was established as part of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), signed into law by President Donald Trump, in order to help employers during the pandemic. [3] The American Rescue Plan Act of 2021, signed into law ...
The Internal Revenue Service announced Tuesday that some tax filers who faced late-pay penalties for tax years 2020 and 2021 will have those penalties waived. The waiver will apply to filers with ...
The American Rescue Plan Act of 2021, also called the COVID-19 Stimulus Package or American Rescue Plan, is a US$1.9 trillion economic stimulus bill passed by the 117th United States Congress and signed into law by President Joe Biden on March 11, 2021, to speed up the country's recovery from the economic and health effects of the COVID-19 pandemic and recession.
The Coronavirus Aid, Relief, and Economic Security Act, [b] [1] also known as the CARES Act, [2] is a $2.2 trillion economic stimulus bill passed by the 116th U.S. Congress and signed into law by President Donald Trump on March 27, 2020, in response to the economic fallout of the COVID-19 pandemic in the United States.
“For those with children, your tax refund might be smaller or larger than usual because of 2021’s enhanced Child Tax Credit,” said Armine Alajian, CPA, founder of the Alajian Group. “The ...
The ERC scam. The ERC is a legitimate tax credit established to help businesses with the cost of keeping staff employed during the pandemic, enacted by the Coronavirus Aid, Relief, and Economic ...
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