Tax

The Internal Revenue Service (IRS) is seeking public input on a plan that would permit employers in service industries to send gratuities to the tax agency. The government announced the proposed establishment of the Service Industry Tip…

Campaigners and Senator Mike Simmons (D-Chicago) lobby for a state Child Tax Credit at a news conference on Tuesday. Tuesday, a group of Democratic lawmakers called for the creation of a state-level Child Tax Credit that would provide up…

The first wave of $450 energy relief check for Maine residents was released by the Mills administration on Monday. In a handful of simple steps, you can determine the status of your payment if you have not yet received your relief check.…

When it comes to paying taxes, many people find themselves strapped for cash. If you're one of them, you can use a credit card. The Taxpayer Relief Act of 1997 allowed the Internal Revenue Service (IRS) to accept credit cards as a form…

A recipient of earned income tax credit may be eligible for up to $6,935, or over $7,000, however, be determined by the circumstances of each family or applicant, such as the number of children or annual income. The Internal Revenue…

The maximum Child Tax Credit per eligible child for 2023 is $2,000 for kids under 5 and $3,000 for kids from 6 to 17. It is significant to note that the current tax season does not support the advance payment option offered in prior…

This week, new information regarding whether stimulus checks that states issued in 2022 are regarded as taxable income on federal returns is anticipated from the Internal Revenue Service. According to the agency's notice, individuals who…

Some governments, such as California's Middle-Class Tax Refund (MCTR) program, have offered stimulus checks. However, experts claim that it is unclear and causes a lot of misunderstanding about whether these are taxable or not.…