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.

Continue Reading

 

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!

Continue Reading

 

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.

Continue Reading

 

Pages

The Cultural Alliance of Greater Washington has worked with Bormel, Grice & Huyett, P.A., since 1988. Their knowledge of the arts and the arts community make their services invaluable. They can translate accounting terminology into a comprehensive language. For many organizations, the accounting firm of Bormel, Grice & Huyett provides the financial "information bridge." We whole-heartedly recommend Bormel, Grice & Huyett, excellent accountants who care about our arts organizations.
Jennifer Cover Payne, Executive Director, Cultural Alliance of Greater Washington

Certifications / Associations