Advance Child Tax Credit Payments in 2021

Before 2021, taxpayers could receive up to a $2,000 nonrefundable credit per child, subject to income phaseouts, for the child tax credit. For tax year 2021, the American Rescue Plan Act (ARPA) increased the child…

IRS GUIDANCE ON SMALL BUSINESS CLOSURES

COVID-19 has hit small business particularly hard, and forced many to close their doors. Whether you are closing your business as a result of the current pandemic or for reasons such as retirement or starting…