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New tax break may make child care less expensive

New tax break may make child care less expensive

The new American Rescue Plan Act (ARPA) provides eligible families with an enhanced child and dependent care credit for 2021. This is the credit available for expenses a taxpayer pays for the child care of qualifying children under the age of 13 so that the taxpayer...
New extended IRS filing due date: May 17, 2021

New extended IRS filing due date: May 17, 2021

Wednesday March 17, 2021: The Treasury Department and Internal Revenue Service announced that the federal income tax filing due date for individual returns for the 2020 tax year will be automatically extended from April 15, 2021, to May 17, 2021. The IRS will be...
2021 Estimated tax payments: Upcoming deadlines

2021 Estimated tax payments: Upcoming deadlines

April 15 is not only the deadline for filing your 2020 tax return, it’s also the deadline for the first quarterly 2021 estimated tax payments, if you’re required to make one. You may have to make 2021 estimated tax payments if you receive interest, dividends, alimony,...
Saving for retirement and recent law changes

Saving for retirement and recent law changes

If you’re approaching retirement, you probably want to ensure the money you are saving for retirement lasts as long as possible. If so, be aware that a law was recently enacted that makes significant changes to retirement accounts. The SECURE Act, which was signed...