Moore CPA Firm

Moore CPA Firm

Child Tax Credit (CTC)

Under the Working Families Tax Cuts Act, the Child Tax Credit (CTC) is worth a maximum of $2,200 per qualifying child, with a refundable portion of up to $1,700. Families can also open “Trump Accounts”—tax-advantaged investment accounts for children—that feature…

Changes for tax year 2024

Changes for tax year 2024 – Standard Tax Deductions Standard deduction amount increase for 2024 Child Tax Credit enhancements.  Under current law for tax year 2024, the following currently apply: A child must be under age 17 at the end…

W2 and 1099 Penalties

  Penalties will rise to $110 PER FORM soonIf you have employees, pay yourself or work with contractors, your W-2s, 1099-NEC and 1099-MISC forms AND filings to the IRS and State Tax Authorities were due on January 31st.If you haven’t filed yet, you now owe…