Tax Changes to Think About in 2022

Tax Changes to Think About in 2022

The 2021 tax landscape was filled with headlines about new, possible, and pending legislation. When the year ended, taxpayers were left with many questions about what taxes would look like in 2022. For now, the Build Back Better Act is on hold, and many provisions of...
IRS Updates Recovery Rebate Credit FAQ

IRS Updates Recovery Rebate Credit FAQ

The IRS has updated its Recovery Rebate Credit FAQ, which is organized into eight categories. The full document is available online, but you can find some of the updates below. How does the 2021 Recovery Rebate Credit differ from the 2020 Recovery Rebate Credit? 2020...
Unemployment and Tax: Back to Normal

Unemployment and Tax: Back to Normal

Unemployment income has always been taxable income. Those who apply for unemployment benefits can have federal tax, and any applicable state tax, withheld, but whether it’s done check by check or in a lump sum, the recipient has to pay. However, because 2020 was...