Category Tax

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…

Tax Transcript

Tax Transcript Request

Taxpayers can request their tax transcripts online or by mail. To request your tax transcript online click the following link to get to the IRS related page. This is the fatest way to get your transcripts. If you don’t have…