by AJ Tax Masters | Nov 18, 2021 | Tax Tips and News
The Internal Revenue Service is doing a little extra to help those taxpayers who have suffered from the wildfires in California. The agency is pushing back the deadlines for filing and paying various individual tax returns to January 3. The deadlines were originally...
by AJ Tax Masters | Nov 17, 2021 | Tax Tips and News
As the economy warms up in recovery mode, inflation starts to raise its ugly head. Everything—from baby food to new cars—costs more. To keep up, the Internal Revenue Service has to update its tax processes and forms to adjust for inflation. So, the IRS has released...
by AJ Tax Masters | Nov 16, 2021 | Tax Tips and News
Families who have significant income changes to report for the advance Child Tax Credit payments are running out of time to pass those changes on to the Internal Revenue Service. The IRS says the changes must be entered on the Child Tax Credit Update Portal (CTC UP)...
by AJ Tax Masters | Nov 16, 2021 | Tax Tips and News
Taxpayers in Connecticut are getting a little extra time to file their taxes, courtesy of Hurricane Ida and the IRS. Ida tore up coastal areas in the southern U.S., and went on to batter the Northeast with flooding and other damage. The Internal Revenue Service...
by AJ Tax Masters | Nov 16, 2021 | Tax Tips and News
A new provision in the tax code lets more taxpayers deduct up to $600 in donations to qualified charities—even if they don’t itemize. Itemizing is ordinarily the key that unlocks the charitable donation deduction; taxpayers choosing the standard deduction...
