A new IRS online portal lets taxpayers unenroll from receiving advance payments of the 2021 child tax credit.
The US Supreme Court held that Texas and several other states lacked standing to sue over the constitutionality of the Sec. 5000A mandate that requires individuals to obtain minimum essential health coverage. The decision leaves the Affordable Care Act in place.
A session at AICPA & CIMA ENGAGE 2021 shows how bedrock tax cases can help practitioners understand and resolve common issues that arise in practice.
The IRS opened an online site that allows taxpayers who are not required to file a 2019 or 2020 individual income tax return to sign up to receive advance child tax credit (advance CTC) payments, which will begin July 15.
The IRS has posted two sets of FAQs that explain changes to the child and dependent care credit and to the sick and family leave credits made by the American Rescue Plan Act.
New IRS final regulations clarify when a federally declared disaster will lead to mandatory 60-day postponement of certain tax-related deadlines.
The proposed $6 trillion fiscal year 2022 budget unveiled by the Biden Administration includes a host of tax items, including proposals to raise the corporate tax rate, raise the top tax rate for high-income individuals, limit like-kind exchanges, and make permanent recent temporary changes to various tax credits.
A proposed new version of Form 941, Employer’s Quarterly Federal Tax Return, reflects relief provisions of the American Rescue Plan Act.
To help exempt organizations “silo,” or separately compute, their unrelated business or trade income, three experts who will be giving a presentation on the topic at the upcoming Not-for-Profit Industry Conference offer their thoughts.
The IRS answered questions concerning COBRA continuation coverage premium assistance and the corresponding tax credit that employers, plan administrators, and insurers may claim under the American Rescue Plan Act.