The Internal Revenue Service has unveiled a pair of new tools to help families manage and monitor advance monthly payments of the Child Tax Credit, made possible by the American Rescue Plan.… Read more about New Online Tools Help Families Manage Monthly CTC Payments (Feed generated with FetchRSS) – Story provided by TaxingSubjects.com…

Most times, businesses pay their employees for the work they do, and set aside a portion of those wages to in turn, pay Uncle Sam. But what if the business has to pay someone who isn’t technically an employee?… Read more about IRS Reminds Businesses About Nonemployee Compensation and Backup Withholding (Feed generated with FetchRSS) – Story provided by TaxingSubjects.com…

The American Rescue Plan, or ARP, excluded up to $10,200 in unemployment compensation from each taxpayer’s taxable income. But some people filed their returns and paid taxes on the full amount of their unemployment benefits before the ARP became law, so the IRS is working to send those taxpayers a refund.… Read more about Refunds Could Be Issued for Overpayment of Tax on Unemployment (Feed generated with FetchRSS) – Story provided by TaxingSubjects.com…

The IRS announced that it is now also offering online tax information in Spanish, Chinese (simplified and traditional), Korean, Russian, Vietnamese, Haitian-Creole, and more.… Read more about IRS Adding Resources in Multiple Languages (Feed generated with FetchRSS) – Story provided by TaxingSubjects.com…

The Internal Revenue Service has rolled out a new online tool that’s built to help families register for monthly Advance Child Tax Credit payments.… Read more about New Online Tool Helps Low-Income Families Register for Advance CTC Payments (Feed generated with FetchRSS) – Story provided by TaxingSubjects.com…

The American Rescue Plan (ARP) put some sweeping changes in place to help the U.S. tax code deal with the effects of the coronavirus pandemic. To help provide guidance to families and small business who might claim some of ARP’s major credits, the IRS has issued two sets of frequently asked questions or FAQs.… Read more about IRS Announces FAQs for Childcare and Paid Leave Credits (Feed generated with FetchRSS) – Story provided by TaxingSubjects.com…