Child Tax Credit and Child & Dependent Care Credit
The American Rescue Plan has expanded the Child Tax Credit and the Child and Dependent Care Credit creating major tax benefits for taxpayers with dependent children. The Child Tax Credit has been expanded from $2,000 per child under the age of 17 to $3,000 per child...
Up to $10,200 of Unemployment Compensation Non-Taxable for Certain Taxpayers
Many taxpayers received unemployment compensation during 2020 due to layoffs and furloughs caused by the Coronavirus Pandemic. If you are one of those taxpayers and your modified adjusted gross income (AGI) is less than $150,000, the American Rescue Plan enacted on...
Breaking News: American Rescue Plan Act
The new $1.9 trillion stimulus bill known as the American Rescue Plan Act will soon land on President Biden’s desk for signature. He is expected to sign into law this Friday. The bill contains a wide range of provisions for individuals and businesses, some of...
