by Holly S Lindstrom CPA PLLC | Aug 27, 2021 | Tax Tips and News
As more employers utilize the employee retention credit to keep their workers employed—and as the pandemic continues to be a factor in American business—the Internal Revenue Service continues to issue guidance on who qualifies for the credit and how best to apply it....
by Holly S Lindstrom CPA PLLC | Aug 26, 2021 | Tax Tips and News
A new feature just added to the IRS’ Child Tax Credit Update Portal allows users receiving the advance credit payments to change their mailing addresses. The Internal Revenue Service says this should speed up the process for taxpayers who get their advance payments by...
by Holly S Lindstrom CPA PLLC | Aug 24, 2021 | Tax Tips and News
Long-haul truckers and others who own heavy highway motor vehicles are running out of time to file their federal highway use tax return by August 31. The heavy vehicle use tax is levied on vehicles with a taxable gross weight of 55,000 pounds or more that operate on...
by Holly S Lindstrom CPA PLLC | Aug 19, 2021 | Tax Tips and News
The tax industry partners who make up the Security Summit are urging practitioners to take a page out of the medical books in order to keep their computer systems healthy: to cure an infection, you first have to know your patient is sick. In other words, tax pros have...
by Holly S Lindstrom CPA PLLC | Aug 18, 2021 | Tax Tips and News
The Internal Revenue Service says millions of families across the U.S. should see their advance payment of the Child Tax Credit (CTC) in their bank accounts or mailboxes any day now. This payment is the second in a series of advance monthly payments. The August...
by Holly S Lindstrom CPA PLLC | Aug 14, 2021 | Tax Tips and News
New guidance from the Internal Revenue Service seeks to clear the air on the Work Opportunity Tax Credit (WOTC) for employers and gives relief to them as well. WOTC makes a federal income tax credit available to those employers who hire qualified workers from groups...