Cormier & Rea announce additional office at 483 Summer St, Ste 2000, Arlington, MA

Tax Tips (Fed)

Blog posts concerning Federal Income Tax tips, changes, updates, news and more

Additional Hurricane Ida relief from IRS: Sept. 15, Oct. 15 deadlines

Categories Tax Tips (Fed)

Victims of Hurricane Ida in parts of Mississippi now have additional time–until Jan. 3, 2022–to file various individual and business tax returns and make tax payments, the Internal Revenue Service announced today. Following last week’s disaster declaration by the Federal Emergency Management Agency (FEMA), the IRS is offering this expanded relief to those parts of …

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Child Tax Credit: Families with income changes must enter them in IRS online portal on Monday to impact Nov. 15 payment

Categories Tax Tips (Fed)

— On Monday, Nov. 1, the Internal Revenue Service will launch a new feature allowing any family receiving monthly Child Tax Credit payments to update their income using the Child Tax Credit Update Portal (CTC UP), found exclusively on IRS.gov. To help families plan ahead, the IRS also announced today that in late November it …

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People can stay connected to the IRS through social media

Categories Tax Tips (Fed)

Taxpayers can stay in the know on all things tax-related by following the IRS verified social media accounts and subscribing to the agency’s e-news services. Here are some details about these valuable information resources. IRS social media platforms • Twitter: Taxpayers, businesses and tax professionals can follow the IRS handles for up to the minute announcements, …

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IRS announces 401(k) limit increases to $20,500

Categories Tax Tips (Fed)

The Internal Revenue Service announced today that the amount individuals can contribute to their 401(k) plans in 2022 has increased to $20,500, up from $19,500 for 2021 and 2020. The IRS today also issued technical guidance regarding all of thecost of living adjustments affecting dollar limitations for pension plans and other retirement-related items for tax …

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