tax Archive

TweetShareSharePin0 Shares The IRS tamped down suggestions there may be widespread inaccuracies in Letters 6419, which report to taxpayers the total amount of advance child tax credit payments they received during 2021. Nevertheless, the Service said in a fact sheet issued Friday (FS-2022-5) that if Letter 6419 reports a different total than expected, taxpayers should

TweetShareSharePin0 Shares The Build Back Better legislative package includes both tax hikes and tax cuts, which contain two contrasting tax policy narratives. Tax hikes include corporate tax increases on foreign income and a new 15 percent domestic minimum tax, and green energy tax incentives provide a tax cut. Policymakers also sought to protect some pre-existing tax

TweetShareSharePin0 Shares Often, tax policy debates can be settled by splitting the difference. You like a tax rate of 28 percent. I prefer 20 percent. Let’s settle on 24 percent and call it a day. But a key disagreement over the future of the Child Tax Credit (CTC) is about far more than a number.

TweetShareSharePin0 Shares Welcome to our monthly podcast in Portuguese, É da sua conta (it’s your business) produced by Grazielle David, Daniela Stefano and Luciano Máximo. All our podcasts are unique productions in five different languages – English, Spanish, Arabic, French, Portuguese. They’re all available here. Here’s the latest episode: Abusos fiscais ocorrem em todos os países, sejam eles de alta ou baixa renda. Mas as desigualdades em

TweetShareSharePin0 Shares 0 Flares Filament.io Made with Flare More Info“> 0 Flares × We blogged on January 6 about the IRS practice of sending notices to individuals seeking to get them to file their 2020 return when the IRS had literally taken their check out of the

TweetShareSharePin0 Shares A few months ago the IRS released an internal field advice memorandum (FAA 20214101F) that outlined the information that must be included in a valid Section 41 refund claim. The Field Advice added specific rules for these claims, including extensive documentation requirements that practitioners have noted will lead to significant costs. Failing to

TweetShareSharePin0 Shares In Rev. Proc. 2022-12, the IRS has prescribed procedures for individuals who are not otherwise required to file a federal income tax return for 2021 to do so to claim, if eligible, the child tax credit (CTC), the recovery rebate credit (RRC), and/or the earned income tax credit (EITC). Most taxpayers are not