Monthly Child Tax Credit Payments
The first batch of advance monthly payments were issued by the IRS on July 15, 2021. Under the American Rescue Plan, each payment is up to $300 per month for each child under age 6 and up to $250 per month for each child ages 6 through 17. Normally, anyone who receives a payment this month will also receive a payment each month for the rest of 2021 unless they unenroll. Besides the July 15 payment, payment dates are: Aug. 13, Sept. 15, Oct. 15, Nov. 15 and Dec. 15.
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We Are Growing
We are growing and currently hiring in our Tax, Audit, Small Business Services and Administrative Departments! To view the full job descriptions, please take a look at our Employment page!
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IRS Cracks Down On Unreported Virtual Currency Income
As the use of Virtual Currency increases, the IRS has signaled that they are beginning to step up their enforcement of tax on these transactions. In March of 2021, the IRS launched “Operation Hidden Treasure” to help track down taxpayers who are making virtual currency transactions. Any taxpayer who fails to report these virtual currency transactions, or report them incorrectly, could be subject to civil or criminal penalties. It is crucial for taxpayers who make virtual currency transactions to keep records so that these transactions can be reported accurately on their returns.
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