Here’s who qualifies a taxpayer for the child and dependent care credit
Childcare or adult dependent care can be a major expense. Fortunately, the child and dependent care credit can provide some relief. Taxpayers who pay for daycare expenses may be eligible to claim up to 35% [...]
IRS warns against COVID-19 fraud; other financial schemes
The Internal Revenue Service today reminded taxpayers to guard against tax fraud and other related financial scams related to COVID-19. In the last few months, the IRS Criminal Investigation division (CI) has seen a variety [...]
Paycheck Protection Program Update
The Trump administration signed into law the new rules and forgiveness guidelines relaxing the previous rules for small business owners who received a loan through the Paycheck Protection Program. Many small business owners who borrowed [...]
Interest Rates Decrease for the Third Quarter of 2020
The Internal Revenue Service today announced that interest rates will decrease for the calendar quarter beginning July 1, 2020. The rates will be: three (3) percent for overpayments [two (2) percent in the case of [...]
2020 – The Good, the Bad and the Ugly
Many people who have Facebook accounts can affirm that there have been a number of memes, jokes, and stories posted that highlight the good, the bad, and the ugly of 2020 thus far. We are [...]