Cormier & Rea announce additional office at 483 Summer St, Ste 2000, Arlington, MA
Blog posts concerning Federal Income Tax tips, changes, updates, news and more
As taxpayers get ready for the upcoming filing season, It’s important for them to know their correct filing status. A taxpayer’s filing status defines the type of tax return form they should use when filing their taxes. Filing status can affect the amount of tax they owe, and it may even determine if they have …
The IRS recently launched a new feature in its Child Tax Credit Update Portal, allowing families receiving monthly advance child tax credit payments to update their income. Families should enter changes by November 29, so the changes are reflected in the December payment. Once the update is made, the IRS will adjust the payment amount …
The Internal Revenue Service today announced the tax year 2022 annual inflation adjustments for more than 60 tax provisions, including the tax rate schedules and other tax changes. Revenue Procedure 2021-45 provides details about these annual adjustments. Highlights of changes in Revenue Procedure 2021-45: The tax year 2022 adjustments described below generally apply to tax …
The Internal Revenue Service today updated frequently-asked-questions (FAQs) for the 2021 Child Tax Credit and Advance Child Tax Credit Payments to describe how taxpayers can now provide the IRS an estimate of your 2021 income using the Child Tax Credit Update Portal (CTC UP). These FAQs update the Advance Child Tax Credit Topic A FAQs …