2021 Recovery Rebate Credit FAQs

If you didn’t get the full amount of the third Economic Impact Payment, you may be eligible to claim the 2021 Recovery Rebate Credit and must file a 2021 tax return – even if you don’t usually file taxes – to claim it. Your 2021 Recovery Rebate Credit will...
Advance 2021 Child Tax Credit FAQs

Advance 2021 Child Tax Credit FAQs

The advance child tax credit payments ended in December, but there’s still more money coming to eligible families in 2022. Now that tax season has arrived, the final enhanced child tax credit payment for 2021 — including any money you didn’t receive in...

Federal Income Tax Update 2021

Federal Income Tax 2021 Review Replay Video Hosted by Daniel M. Krug, CEO and Senior Wealth Manager, Rocky Istvan, CCO and Associate Wealth Manager. Special Guest Speaker Brenda Hunter, CPA Click to...

Michigan Unemployment Update – July 2021

Work Search Requirement Reinstated As of May 30, 2021, the Unemployment Insurance Agency (UIA) has reinstated work search requirements for unemployment benefits claimants. The requirement to search for work in order to receive unemployment benefits had been suspended...

2021 Child Tax Credit & Advanced Payments

Under the American Rescue Plan Act (ARPA), P.L. 117-2, the IRS must make 2021 periodic advance child tax credit payments to taxpayers up to the “annual advance amount.” These payments — up to $300 per month per child under age 6 and up to $250 per month per child age...

Tax Effects of the American Rescue Plan Act

In addition to the $1,400 stimulus payments to many Americans, the American Rescue Plan Act provides many other relief measures, and also some new business tax measures, that should be noted.CPA Practice advisor The American Rescue Plan Act of 2021 (ARPA), enacted by...