Taxation

The IRS claims that its efforts to recover funds that were wrongfully disbursed under the Employee Retention Credit are progressing. The ERC was created to assist companies in keeping workers during the pandemic shutdown, but fraud…

The Child Tax Credit (CTC) is a significant financial support for families raising children.  However, many families face a tax planning adjustment when their child reaches 17, as the Child Tax Credit typically ends at that age.…

The saying, "the only thing we have to fear is fear itself," attributed to Franklin D. Roosevelt, may not hold true when one is faced with an IRS audit notice. Although receiving a notification does not always indicate an impending audit,…

As tax season looms closer, parents across the United States are eagerly anticipating information about their Child Tax Credit (CTC) eligibility. For many, this credit is not just a tax benefit but a crucial component of their financial…

The advancements in tax technology, pending regulations, and the inclusion of cryptocurrency in tax forms are crucial developments to monitor in 2024.  The IRS has recently launched two new technology systems, the Information Returns…

Last year, many Minnesotans received a welcomed boost to their bank accounts in the form of one-time checks and direct deposits as part of a state funding surplus redistribution.  However, as tax season rolls around, more than two…

The Cuyahoga County Council voted to extend a 0.25% sales tax for 40 years, ensuring a long-term funding source for the construction of a new county jail in Garfield Heights.  The decision, passing with a 6-5 vote, came after months of…

The forecast for next year's Social Security increase has increased slightly, from 3% to 3.2%, due to August inflation figures reported by the government.  As inflation continues to be a concern for many, it is possible that this…