Talks on the expansion of the Child Tax Credit appear to have stalled, with a key sticking point being opposition of some lawmakers to making the credit fully refundable – or allowing low-income families to qualify for the maximum credit regardless of how much they earn. However, there are potential compromises short of full refundability
Taxes
Last year, I published a piece about the top myths regarding the Employee Retention Credit (ERC) that was preventing business owners, charity managers and Indian tribes from claiming this important tax incentive. Now, the misinformation has gone the other way, and businesses (as well as tax-exempt/charities and Indian tribes — but I will just use
In the second installment of a three-episode series, Jennifer Acuña, now with KPMG and former tax counsel for the House Ways and Means Committee, discusses how guidance for the Tax Cuts and Jobs Act is still evolving. This transcript has been edited for length and clarity. David D. Stewart: Welcome to the podcast. I’m David
A series of reports in The Wall Street Journal informs readers that U.S. employment will decrease by 1.5 million if, as Democratic leaders wish, the expanded child tax credit (CTC) that was temporarily in effect in 2021 is reenacted and replaces the current-law child credit. In April 2021 President Biden proposed a five-year extension of
Year-end tax planning this year is likely to be different than the last few years, especially for retirees. Many retirees should take a close look at their estimated tax payments and determine if they need to adjust their last payment, due January 15, to avoid penalties. Interest rates increased in 2022. A result is many