Taxpayers face challenges as tax provisions sunset in 2025
Unless Congress acts, current tax rates and most tax provisions in the tax code will sunset in 2025.
Tag: child tax credit
Time is running out for certain tax breaks
With the mid-term elections coming to a close with the run-off election for the Georgia Senate seat, Congress turns its attention to some must-pass bills before the end of the year. First, funding for the federal government expires on December 16, requiring Congress to pass an omnibus spending bill or continuing resolution. Additionally, lawmakers must
New child tax credit form coming for the 2021 filing
Many taxpayers are receiving a new child tax credit form from the IRS to complete for their 2021 filing.
Key tax figures for 2022
While most key tax figures for 2022 had only slight changes, there are areas where individuals may want to consider revisions to their tax strategy.
Tax policy discussions take a turn on Capitol Hill
Tax policy discussions continue in Washington and here is what is in the latest bill.
Top tax questions on the minds of financial professionals
As lawmakers debate spending bills on Capitol Hill, the leading tax questions on the minds of advisors involve proposed changes to the tax code.
Four key tax changes in the new pandemic relief bill
In addition to broad relief measures, the latest pandemic relief bill includes several tax changes that could impact planning.
Change in administration may mean tax changes
With uncertainty around the upcoming elections, it is not clear what types of tax changes may be implemented under a new administration.
Enhanced tax credits may balance lost exemption in tax reform
An increase in the child tax credit may help families realize a tax advantage even as the personal exemption is lost.
Tax reform proposals may limit deductions, loopholes
As discussion around tax changes increases on Capitol Hill, proposals point to a reduction in tax preference items and tax loopholes.