by MTS Tax Preparation, Planning, and Financial Literacy | Dec 30, 2021 | Tax Tips and News
If taxpayers get a letter from the Internal Revenue Service relating to either the Advance Child Tax Credit or Economic Impact Payments, they need to file the letters for safekeeping. Those taxpayers will need the letters when they file their 2021 income taxes next...
by MTS Tax Preparation, Planning, and Financial Literacy | Dec 30, 2021 | Tax Tips and News
Taxpayers who took advantage of some tax-relief measures during the dark days of the COVID-19 pandemic are being reminded that’s it’s now time to pay up. For some taxpayers, the part of their 2020 Social Security tax bill they were able to delay to 2022 will be due...
by MTS Tax Preparation, Planning, and Financial Literacy | Dec 28, 2021 | Tax Tips and News
As recovery efforts spread across parts of the south in the wake of the December 10 tornadoes, the Internal Revenue Service is expanding its effort to give affected taxpayers in the region a helping hand. The IRS has expanded its previously issued relief package to...
by MTS Tax Preparation, Planning, and Financial Literacy | Dec 28, 2021 | Tax Tips and News
In November 2021, Drake Software and Right Networks collaborated on a three-part series highlighting different software solutions available to tax professionals. In part one, we learned about the different ways tax practices run software. Part two covered how cloud...
by MTS Tax Preparation, Planning, and Financial Literacy | Dec 21, 2021 | Tax Tips and News
As the phrase goes, all good things come to an end, and the Internal Revenue Service is saying just that about the advance payments of the Child Tax Credit, or CTC. In December, families who have qualified for the advance payments of the credit will get their final...
