Temporary Changes to the Child and Dependent Care Credit

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The American Rescue Plan Act (ARPA) includes major, but temporary, changes to the longstanding federal income tax child and dependent care credit. The changes are favorable for most taxpayers, except high-income individuals. Here's what you need to know about this credit and how it's changing for… Read more

Tags: COVID

Fust Charles Chambers warns of potential vaccine scams
As millions of people sign up for COVID-19 vaccines across the United States, dishonest people see yet another opportunity to defraud, cheat or steal from unsuspecting victims. Don't let yourself be swept up in these types of scams. Too often, these con artists make promises that they can't keep,…

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The American Rescue Plan Act (ARPA) significantly liberalizes the rules for the federal child tax credit, which means more money in the pockets of eligible parents this year. However, the liberalizations are only for the 2021 tax year. Here's the story.

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CARES Act
In response to the pandemic, Congress has passed several pieces of legislation that created various relief funds to help organizations navigate the impact of COVID-19. The Provider Relief Fund (PRF) comes with a unique set of compliance, auditing and reporting requirements that must be met by…

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On March 10, 2021, the U.S. House of Representatives passed a modified version of the American Rescue Plan Act of 2021 (ARP bill), President Biden’s $1.9 trillion COVID-19 relief package aimed at stabilizing the economy, providing needed relief to individuals and small businesses, and improving and…

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The U.S. Department of Labor's Wage and Hour Division (WHD) recently issued news releases announcing judgments against five companies investigated for various violations of laws and regulations. Here are the details.

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When one door closes, another opens. The COVID-19 pandemic has forced many small businesses to permanently shutter. But it has also provided new opportunities, especially for gig economy workers and other sole proprietors who were laid off or furloughed during the pandemic.

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Tags: Best Of, Careers

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Good news! Business taxpayers may still be able to take actions to lower their federal income tax liabilities for 2020, as well as for future years. Consider these ideas before you file last year's return.

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Attempts to claim write-offs for bad debt losses have fueled controversies with the IRS for many years. Unfortunately, bad debt losses are increasingly common during the COVID-19 pandemic. Here's an overview of the federal income tax treatment of these losses.

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