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2020 Tax Refunds: Each year, the IRS encourages taxpayers to file their tax returns on time to receive any refunds owed. For the 2020 tax year, over $1.3 billion in refunds remains unclaimed as the May 17, 2024, deadline approaches. In this post, we will provide more details about the unclaimed refund amounts, important dates, … Read more
The Internal Revenue Service (IRS) has recently announced the opening of the application period for the 2025 Low Income Taxpayer Clinic (LITC) matching grant program. This critical initiative aims to provide vital support and resources to organizations dedicated to assisting low-income and English as a Second Language (ESL) taxpayers in navigating the complexities of the … Read more
Welcome to our guide on the Sustainable Aviation Fuel Tax Credit! In this article, we’ll walk you through everything you need to know about qualifying, calculating, and claiming this valuable credit. As the aviation industry increasingly focuses on sustainability, understanding how to access this credit is more important than ever. From eligibility requirements to the … Read more
Are you a business owner or investor looking to take advantage of the solar and wind energy tax credits? The Internal Revenue Service (IRS) has recently issued new guidance that could significantly impact your plans. In this comprehensive guide, we’ll break down the key points of Revenue Procedure 2024-19, which outlines the application process, documentation … Read more
Discover the AOTC Tax Credit 2024: the AOTC Tax Credit takes the spotlight! But what’s the buzz about AOTC? This credit, officially known as the American Opportunity Tax Credit, holds the key to easing the burden of education expenses for eligible individuals. Wondering why it’s a “wow”? Well, it’s partially refundable, injecting a dose of … Read more
The Employee Retention Credit (ERC), also known as the Employee Retention Tax Credit or ERTC, emerges as a vital lifeline for eligible businesses and tax-exempt organizations in the aftermath of the COVID-19 pandemic. This refundable tax credit, established by the federal government, is designed to provide financial assistance to entities that had employees and were … Read more
The premium tax credit is a helpful way for individuals and families to make health insurance more affordable. However, figuring out if you qualify and how to claim the credit can be a bit tricky. This guide is here to make it simple for you. We’ll walk you through everything you need to know, from … Read more
In the intricate world of tax refunds, timing is an essential factor that can significantly impact your financial landscape, especially for individuals who have claimed the Earned Income Tax Credit (EITC) or the Additional Child Tax Credit (ACTC). The specific date to highlight on your calendar is February 27. In this extensive guide, we will … Read more
In the fast-paced world of business, employers are continually seeking innovative ways to attract and retain top talent. One such avenue that not only benefits employees but also provides substantial tax advantages for employers is the IRS-Approved Childcare Tax Credit. In this comprehensive guide, we will explore the intricacies of this credit, its eligibility criteria, … Read more
In a decisive move, the Internal Revenue Service (IRS) has announced crucial tax relief for individuals and businesses in West Virginia, severely impacted by storms, flooding, landslides, and mudslides commencing on August 28, 2023. This comprehensive guide delves into the IRS’s multifaceted relief measures, outlining how extended deadlines, eligibility criteria, and various relief options aim … Read more
