The IRS announced that crucial changes have been made to the Child Tax Credit (CTC) under the American Rescue Plan of 2021 (ARPA) that will help many families receive advance payments, beginning as soon as this summer. ARPA expands the CTC for tax year 2021 only. The IRS has started sending letters to more than… Read more »
Tag: tax credit
Special Tax Credit Available for Those Who Adopted, Began Process in 2020
Posted by Jonathan Ieraci & filed under In the News.
The adoption tax credit is offered to help offset some of the expensive costs that occur during the adoption process. Taxpayers who adopted or started the adoption process in 2020 should take note of the rules that are paired with the adoption tax credit. According to the IRS (irs.gov/newsroom), this special tax credit is a… Read more »