Platinum Professional ServicesAug 26, 20212 minRetirement and taxes: Understanding IRAsIndividual Retirement Arrangements, or IRAs, provide tax incentives for people to make investments that can provide financial security...
Platinum Professional ServicesJul 28, 20212 minTaxation of Hobby ActivitiesMany people are engaged in hobby activities that are also a source of income. For example, some people started selling handmade items...
Platinum Professional ServicesJul 15, 20212 minIRS Announces Two new Online Tools to Help Families Manage Child Tax Credit PaymentsThe Internal Revenue Service launched two new online tools designed to help families manage and monitor the advance monthly payments of...
Platinum Professional ServicesJul 8, 20212 minFacts to help taxpayers understand backup withholdingBackup withholding is a federal tax on income that otherwise typically doesn't require tax withholding, such as 1099 and W2-G income....
Platinum Professional ServicesJul 8, 20211 minHomeownership and TaxesHere are some key things homeowners should consider when selling a home: Ownership and Use To claim the exclusion, the taxpayer must meet...
Platinum Professional ServicesJul 1, 20212 minTaxpayers may Receive a Refund for Taxes paid on 2020 Unemployment CompensationThe IRS is reviewing tax returns filed before the American Rescue Plan of 2021 became law in March to determine the correct taxable...
Platinum Professional ServicesMay 29, 20211 minIRS, Treasury Announces Automatic Monthly Payment of the Refundable Child Tax CreditThe Internal Revenue Service and the U.S. Department of the Treasury announced that the first monthly payment of the expanded and...
Platinum Professional ServicesMay 20, 20212 min2020 Tax Year - Emergency Student AidIRS explains student and higher education institution reporting requirements, credits and deductions The Internal Revenue Service issued...
Platinum Professional ServicesMay 20, 20211 minChild Tax Credit - American Rescue Plan Act 2021The American Rescue Plan Act, which President Biden signed into law last month, significantly expands the Child Tax Credit in hopes of...
Platinum Professional ServicesMay 20, 20212 minTaxation of 2020 Unemployment Benefits - March 2021A record number of Americans applied for unemployment compensation in 2020 due to the pandemic. Anyone who received unemployment benefits...