The IRS Begins Sending October Child Tax Credit (CTC) Payments. There’s Still Time to Sign Up!

Families are now receiving their advance Child Tax Credit (CTC) payment for the month of October. This fourth batch of advance monthly payments, totaling about $15 billion, is reaching about 36 million families today across the country. The majority of payments

Thinking About Withdrawing from Your Roth IRA? Make Sure You Know the Tax Consequences Before You Do!

Some Roth IRA withdrawals are taxable. Even worse, some can be socked with a 10 percent early withdrawal penalty tax, and this can happen even when there’s no income tax hit. Any withdrawals from any of your Roth accounts are

What Employers Need to Know When Classifying Workers as Employees or Independent Contractors

An important tax tip from the IRS: It is critical for business owners to correctly determine whether the individuals providing services are employees or independent contractors. An employee is generally considered anyone who performs services, if the business can control

Families Now Receiving September Child Tax Credit Payments

Families are now receiving their advance Child Tax Credit (CTC) payment for the month of September. This third batch of advance monthly payments, totaling about $15 billion, is reaching about 35 million families today across the country. The majority of payments

IRS Reminds Business Owners to Correctly Identify Workers as Employees or Independent Contractors

During National Small Business Week, the Internal Revenue Service reminds business owners that it’s critical to correctly determine whether the individuals providing services are employees or independent contractors. An employee is generally considered to be anyone who performs services, if

All Employers: New Guidance on Reporting Qualified Sick and Family Leave Wages on Form W-2

The Treasury Department and the Internal Revenue Service issued Notice 2021-53, which provides guidance to employers about reporting on Form W-2 the amount of qualified sick and family leave wages paid to employees for leave taken in 2021. The notice provides

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