Tax

Scammers took advantage of the pandemic by filing fraudulent claims for unemployment compensation using stolen personal information of individuals who had not filed claims.

Prior to the TCJA, the maximum CTC was $1,000 per qualifying child, subject to a phase-out starting at $75,000 of modified adjusted gross income (MAGI) for single filers and $110,000 of MAGI for joint filers. The credit was refundable up to the lesser...

To help fight identity theft, the IRS sometimes sends identity verification letters to some taxpayers. While not all taxpayers receive one, they are not rare, nor do they mean you did something wrong.

As some of your business clients prepare to reopen their doors while ensuring the safety of their employees and customers, it’s your job to nudge them to start gathering their tax documents and financials for the April deadline.

The updates to the FAQs cover how the COVID-related Tax Relief Act of 2020, enacted December 27, 2020, extends the availability of the tax credits created by the FFCRA to eligible employers for paid sick and family leave provided through March 31, 2021...

There are some things that business owners can do to make tax season easier; for themselves and for their accountant. Here are just a few:

TaxExact, Inc. has launched its new, self-named TaxExact system, a new cloud-based tax technology application for tax professionals. TaxExact is a tax verification tool designed to transform the 1040 review process for tax professionals to increase the...

Following an unpredictable year with many changes and challenges, the IRS has shared several important reminders for taxpayers who are about to file their 2020 federal tax returns. Check with a tax professional if you have questions...