2021Advance Child Tax Credit TAX YEAR Advance Child Tax Credit Payments https://www.irs.gov/credits-deductions/advance-child- tax-credit-payments-in-2021 Important changes to the Child Tax Credit will help many families get advance payments of the credit...
2021Audits TAX YEAR Representation Individual taxpayers who are under audit by the IRS may attend the audit in person without any assistance from a tax professional. However, this can be a dangerous mistake. Al- though not officially stated, it is the job of an IRS...
2021TAX YEAR Financial Planning Guide Personal Financial Planning BudgetingSteps to managing income and expenses include:Be realistic when making a budget.Identify monthly outflows as living expenses, savings, and discretionary.Estimate low for...
How Long Should You Keep Tax Records?The IRS says you must keep your records for as long as they may be needed for the admin- istration of any provision of the Internal Reve- nue Code, which means you must keep records of items shown on your return until the statute...
Tax News 2021Volume 9, Issue 1and Industry Updates Standard Mileage RateCross References ◆ ◆ ◆FinCEN Regulations on Virtual CurrencyCross ReferencesFinCEN RIN 1506-AB47The Financial Crimes Enforcement Network (FinCEN) is a bureau of the...