Did You or Your Employer Defer Social Security Taxes in 2020? Half of the Deferred Amount is Due on January 3, 2022!

The IRS reminds employers and self-employed individuals that chose to defer paying part of their 2020 Social Security tax obligation that a payment is due on January 3, 2022. Most affected employers and self-employed individuals received reminder billing notices from

Advance Child Tax Credit Recipients – Look Out for a Letter From the IRS That You Will Need to File Your 2021 Tax Return!

The IRS announced that it will issue information letters to Advance Child Tax Credit recipients starting in December and to recipients of the third round of the Economic Impact Payments at the end of January. Using this information when preparing

The Last 2021 Child Tax Credit (CTC) Payment has Been Made to Families. What Can You Do if You Missed Out?

American families will soon receive their final advance Child Tax Credit (CTC) payment for the month of December. Eligible families who did not receive advance payments can claim the Child Tax Credit on their 2021 federal tax return to receive

IRS: Interest Rates Unchanged for the First Quarter of 2022

The Internal Revenue Service today announced that interest rates will remain the same for the calendar quarter beginning January 1, 2022. The rates will be: 3% for overpayments (two (2) percent in the case of a corporation), 0.5% for the

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