by Jessica Diaz | Jul 26, 2021 | Personal Tax, Tax
Now that July is here, many of our S&K clients who are full-time parents or caregivers to school-aged children, have begun receiving their Advance Child Tax Credit payments from the IRS. Most families will receive the first half of the credit in advance monthly...
by Jessica Diaz | Jun 25, 2021 | Uncategorized
Any U.S. citizen, resident or domestic legal entity who missed the April 15 deadline to file their annual Report of Foreign Bank and Financial Accounts (FBAR) will receive an automatic extension until October 15, 2021 – and an extension need not be requested. Who must...
by Jessica Diaz | Jun 21, 2021 | Uncategorized
In mid-May, the IRS began issuing refunds on 2020 unemployment insurance taxes to some taxpayers. The refunds have been sent on a rolling basis, with single filers receiving theirs first, including those without children and those who did not claim any refundable tax...
by Jessica Diaz | Jun 15, 2021 | Uncategorized
In early April, the IRS released guidance explaining when the temporary 100 percent deduction for restaurant meals is available, and when the 50 percent limitation on the deduction for food and beverages continues to apply. Under section 274(n) (1) of the tax code, a...
by Jessica Diaz | May 23, 2021 | Uncategorized
Many of our S&K clients are parents of eligible dependents and qualify for the child tax credit which President Biden included in his American Families Plan earlier this spring. This plan offers parents a credit of up to $3,600 per eligible child, and payments...
