ELO CPAs & AdvisorsMar 32 minIRS releases new guidance on Earned Income Tax CreditThe Internal Revenue Service posted a set of answers Wednesday to frequently asked questions on the Earned Income Tax Credit. The new...
ELO CPAs & AdvisorsFeb 43 minNew bill would change tax rules for cryptocurrency purchasesA group of lawmakers teamed up Thursday to introduce bipartisan legislation that aims to create a workable structure for taxing purchases ma
ELO CPAs & AdvisorsJan 266 minIRS Child Tax Credit letters may have wrong informationThe letters that the Internal Revenue Service has been sending to taxpayers about the amounts they received on advance payments of the...
ELO CPAs & AdvisorsJan 115 minTax season to start on Jan. 24The Internal Revenue Service said Monday that it will begin processing and accepting 2021 tax returns on Monday, Jan. 24, and the filing...
ELO CPAs & AdvisorsJul 23, 20215 minIRS warns of child tax credit scamsThe Internal Revenue Service’s Criminal Investigation division is cautioning taxpayers and tax professionals to beware of scams related...
ELO CPAs & AdvisorsJul 19, 20211 minAmerican families begin receiving advance child tax credit paymentsAmerican families have started to receive monthly Child Tax Credit payments as direct deposits begin posting to bank accounts and checks...
ELO CPAs & AdvisorsJun 21, 20214 minIRS Launches Online Tool to Register for Monthly Child Tax Credit PaymentsThe Treasury Department and the Internal Revenue Service have unveiled an online Non-filer Sign-up tool designed to help eligible...
ELO CPAs & AdvisorsJun 8, 20212 minIRS is processing returns of taxpayers who paid tax on 2020 unemployment compIRS 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...
ELO CPAs & AdvisorsJun 1, 20214 minPresident's budget contains many tax proposalsPresident Joe Biden’s administration unveiled its proposed budget for fiscal year 2022 on Friday. Treasury says the $6 trillion proposed...
ELO CPAs & AdvisorsJan 19, 20211 min1099/W-2 Filing Deadline is Approaching FastCopies of 1099s & W-2s must be mailed to recipients by January 31st. Complete information is due to ELO by this Friday, January 22nd or...
-Sep 29, 20205 minThe Various Tax PlansWith the presidential election only weeks away, many people are beginning to pay closer attention to each candidate’s position on issues.