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Income Taxes › Child Tax Credit

Income taxes are taxes that are collected on the individual earnings of persons or entities. Depending on the jurisdiction, income taxes are calculated and collected in a variety of ways. Some tax systems collect... more +
Income taxes are taxes that are collected on the individual earnings of persons or entities. Depending on the jurisdiction, income taxes are calculated and collected in a variety of ways. Some tax systems collect income taxes based on a progressive scheme, while others may utilize a proportional or regressive framework. less -
Groom Law Group, Chartered

This Week From the Hill (June 30 – July 7, 2024)

Groom Law Group, Chartered on

Each week while Congress is in session, our Policy team delivers a key update to highlight a topical benefits, health, or retirement news item from the Hill, such as a newly introduced bill, a summary of a committee hearing,...more

Groom Law Group, Chartered

This Week From the Hill (April 21 – 27, 2024)

Groom Law Group, Chartered on

Each week while Congress is in session, our Policy team delivers a key update to highlight a topical benefits, health, or retirement news item from the Hill, such as a newly introduced bill, a summary of a committee hearing,...more

McDermott Will & Emery

Weekly IRS Roundup April 8 – April 12, 2024

McDermott Will & Emery on

Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of April 8, 2024 – April 12, 2024. April 8, 2024: The IRS released Internal Revenue Bulletin 2024-15,...more

Allen Barron, Inc.

Tax Updates and Information for US Expatriates

Allen Barron, Inc. on

US tax filing is underway, and as we approach the April 15 deadline we would like to offer additional tax updates and information for US expatriates. The first and most important thing for US expatriates to know about taxes...more

McAfee & Taft

Oklahoma’s Parental Choice Tax Credit

McAfee & Taft on

Earlier this year, the Oklahoma Legislature created the Oklahoma Parental Choice Tax Credit Program. It provides a refundable income tax credit beginning with tax year 2024 for Oklahoma taxpayers who incur expenses for a...more

Brownstein Hyatt Farber Schreck

Taxation & Representation, September 20, 2022

Brownstein Hyatt Farber Schreck on

Democrats’ Latest Push for an Expanded CTC. With the year-long effort to legislate a comprehensive energy, healthcare and tax bill finally completed, many Democratic lawmakers and members of the administration have fully...more

McDermott Will & Emery

Weekly IRS Roundup July 25 – July 29, 2022

McDermott Will & Emery on

Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of July 25, 2022 – July 29, 2022...more

Weber Gallagher Simpson Stapleton Fires &...

What You Need to Know About The Child Tax Credit and Filing Taxes in Pennsylvania

Weber Gallagher Simpson Stapleton Fires &... on

Pennsylvania tax filers will not be provided any automatic extensions because of the pandemic and will need to have their 2021 Federal and State Taxes filed by Monday, April 18, 2022. If you do not file your income taxes by...more

McDermott Will & Emery

Weekly IRS Roundup March 6 – March 12, 2022

McDermott Will & Emery on

Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of March 6, 2022 – March 12, 2022... March 6, 2022: The IRS issued a news release reminding...more

McDermott Will & Emery

Weekly IRS Roundup January 30 – February 5, 2022

McDermott Will & Emery on

Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of January 30, 2022 – February 5, 2022... January 31, 2022: The IRS issued Revenue Procedure...more

White and Williams LLP

2022 Tax Filing Season: Nine Things You Need to Know

White and Williams LLP on

The 2022 tax season is upon us. With what promises to be an unusual tax filing season, below are nine updates and tips to keep in mind. 1. Tax Returns are Lagging. On January 12, the National Taxpayer Advocate issued its...more

McDermott Will & Emery

Weekly IRS Roundup November 22 – November 26, 2021

McDermott Will & Emery on

Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of November 22, 2021 – November 26, 2021... November 22, 2021: The IRS released a memorandum...more

Roetzel & Andress

House Passes Build Back Better Act

Roetzel & Andress on

Early Friday morning, the U.S. House of Representatives approved President Biden’s sweeping social and climate spending proposal known as the Build Back Better Framework. Key provisions in the approximately $2 trillion bill...more

McDermott Will & Emery

Weekly IRS Roundup October 25 – October 29, 2021

McDermott Will & Emery on

Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of October 25, 2021 – October 29, 2021... October 25, 2021: The IRS released a memorandum...more

McDermott Will & Emery

Weekly IRS Roundup August 16 – August 20, 2021

McDermott Will & Emery on

Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of August 16, 2021 – August 20, 2021... August 17, 2021: The IRS Security Summit series, in...more

Freeman Law

Back Off, IRS!—Accounts Holding Advance Child Tax Credit Payments Immune from Levy?

Freeman Law on

By now, many eligible taxpayers may have found a deposit appear in their bank account during July. This was likely in addition to one or more correspondence letters from the Internal Revenue Service and/or the White House...more

McDermott Will & Emery

Weekly IRS Roundup July 12 – July 16, 2021

McDermott Will & Emery on

Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of July 12, 2021 – July 16, 2021... July 12, 2021: The IRS issued a news release announcing the...more

Bowditch & Dewey

Will You Receive Child Tax Credit Advance Payments?

Bowditch & Dewey on

Beginning on July 15, 2021, you may start receiving Child Tax Credit advance payments from the IRS. These payments are advancements against half of your 2021 Child Tax Credit, so if you do receive these payments, they will...more

Fox Rothschild LLP

The Illusory Tale Of The Biden Tax Credit

Fox Rothschild LLP on

This weekend brought a report from an outlet called BGR Media about the child tax credits that are due to start hitting bank accounts in the next few weeks. This child tax credit, unlike all its predecessors, is being paid...more

McDermott Will & Emery

Weekly IRS Roundup June 14 – June 18, 2021

McDermott Will & Emery on

Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of June 14, 2021 – June 18, 2021... June 14, 2021: The IRS issued a news release unveiling updates...more

McDermott Will & Emery

Weekly IRS Roundup May 17 – May 21, 2021

McDermott Will & Emery on

Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of May 17, 2021 – May 21, 2021... May 17, 2021: The IRS issued Revenue Ruling 2021-9, providing...more

Baker Donelson

S.A.L.T. Select Developments - April 2021

Baker Donelson on

State and local taxes impact almost every taxpayer, and developments in any one jurisdiction can be frequent and sometimes confusing. In this newsletter edition, we will briefly summarize certain SALT developments in several...more

Gould + Ratner LLP

The Latest COVID-19 Stimulus: Highlights of Key Tax Provisions in the American Rescue Plan Act of 2021

Gould + Ratner LLP on

The American Rescue Plan Act of 2021 (ARPA, 2021) was signed by President Biden on March 11, 2021 to address the continuing economic impact on employers and employees the coronavirus (COVID-19) pandemic has posed. The ARPA...more

ArentFox Schiff

Key Tax Provisions of $1.9 Trillion COVID-19 Aid Package

ArentFox Schiff on

At $1.9 trillion, the American Rescue Plan Act of 2021, signed into law by President Biden on March 11, 2021, is the largest aid package passed by Congress since the start of the pandemic. With the Rescue Act, Congress hopes...more

Lewitt Hackman

COVID-Related Tax Relief Act Summary

Lewitt Hackman on

Congress passed the $900 Billion COVID-Related Tax Relief Act of 2020 (“COVIDTRA” or “the Act”) as part of the Consolidated Appropriations Act of 2021, on December 21, 2020. As of this writing, President Donald J. Trump has...more

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