by HintonBurdick | Apr 1, 2021 | News
Signed into law on March 11, 2021, the American Rescue Plan Act (ARPA) contains several tax provisions affecting individuals and families. Let’s take a look: Economic Impact Payments (EIP3). A third round of economic impact payments (EIP3) will be sent to...
by HintonBurdick | Apr 1, 2021 | News
The federal income tax filing due date for individual taxpayers, including individuals who pay self-employment tax, has been extended to Monday, May 17, 2021, for the 2020 tax year. There is no need to file any forms to qualify for this automatic federal tax filing...
by HintonBurdick | Mar 1, 2021 | News
If you haven’t contributed funds to an Individual Retirement Account (IRA) for tax year 2020, or if you’ve put in less than the maximum allowed, you still have time to do so. You can contribute to either a traditional or Roth IRA until the April 15, 2021...
by HintonBurdick | Mar 1, 2021 | News
During 2020, millions of taxpayers were impacted by the COVID-19 pandemic through job loss or reduced work hours. Some taxpayers who faced unemployment or reduced work hours applied for and received unemployment compensation from their state. As a reminder,...
by HintonBurdick | Mar 1, 2021 | News
Taxpayers with dependents who don’t qualify for the child tax credit may be able to claim the credit for other dependents. The maximum credit amount is $500. To take the credit your dependent must meet certain conditions. For example, the dependent you are...
