Unless Congress acts, current tax rates and most tax provisions in the tax code will sunset in 2025.
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
Many taxpayers are receiving a new child tax credit form from the IRS to complete for their 2021 filing.
Tax policy discussions continue in Washington and here is what is in the latest bill.
As lawmakers debate spending bills on Capitol Hill, the leading tax questions on the minds of advisors involve proposed changes to the tax code.
In addition to broad relief measures, the latest pandemic relief bill includes several tax changes that could impact planning.
An increase in the child tax credit may help families realize a tax advantage even as the personal exemption is lost.
As discussion around tax changes increases on Capitol Hill, proposals point to a reduction in tax preference items and tax loopholes.