IRS releases new guidance on Earned Income Tax Credit
The Internal Revenue Service posted a set of answers Wednesday to frequently asked questions on the Earned Income Tax Credit. The new...
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ELO CPAs & Advisors
- Feb 4
- 3 min
New bill would change tax rules for cryptocurrency purchases
A group of lawmakers teamed up Thursday to introduce bipartisan legislation that aims to create a workable structure for taxing purchases ma
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ELO CPAs & Advisors
- Jan 26
- 6 min
IRS Child Tax Credit letters may have wrong information
The letters that the Internal Revenue Service has been sending to taxpayers about the amounts they received on advance payments of the...
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ELO CPAs & Advisors
- Jan 11
- 5 min
Tax season to start on Jan. 24
The Internal Revenue Service said Monday that it will begin processing and accepting 2021 tax returns on Monday, Jan. 24, and the filing...
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ELO CPAs & Advisors
- Jul 23, 2021
- 5 min
IRS warns of child tax credit scams
The Internal Revenue Service’s Criminal Investigation division is cautioning taxpayers and tax professionals to beware of scams related...
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ELO CPAs & Advisors
- Jul 19, 2021
- 1 min
American families begin receiving advance child tax credit payments
American families have started to receive monthly Child Tax Credit payments as direct deposits begin posting to bank accounts and checks...
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ELO CPAs & Advisors
- Jun 21, 2021
- 4 min
IRS Launches Online Tool to Register for Monthly Child Tax Credit Payments
The Treasury Department and the Internal Revenue Service have unveiled an online Non-filer Sign-up tool designed to help eligible...
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ELO CPAs & Advisors
- Jun 8, 2021
- 2 min
IRS is processing returns of taxpayers who paid tax on 2020 unemployment comp
IRS is processing returns of taxpayers who paid tax on 2020 unemployment comp IR 2021-123, 6/4/2021 In a News Release, IRS has announced...
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ELO CPAs & Advisors
- Jun 1, 2021
- 4 min
President's budget contains many tax proposals
President Joe Biden’s administration unveiled its proposed budget for fiscal year 2022 on Friday. Treasury says the $6 trillion proposed...
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ELO CPAs & Advisors
- Jan 18, 2021
- 1 min
1099/W-2 Filing Deadline is Approaching Fast
Copies of 1099s & W-2s must be mailed to recipients by January 31st. Complete information is due to ELO by this Friday, January 22nd or...
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- Sep 28, 2020
- 5 min
The Various Tax Plans
With the presidential election only weeks away, many people are beginning to pay closer attention to each candidate’s position on issues.
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