Federal Tax | Cg Tax, Audit & Advisory

19 Jun

Marriage & Taxes

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June 15, 2021

It’s wedding season. While taxes may be the last thing on the minds of the happy couples, the IRS is reminding newlyweds of important details that could be overlooked. If there’s a name change,...

18 Jun

Coronavirus Stimulus Bill, Federal Tax

IRS FAQs for ARPA’s Sick & Family Leave Credit

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June 15, 2021

The IRS has released a series of FAQs regarding the American Rescue Plan Act’s (ARPA’s) sick and family leave credit. The ARPA extended and changed payroll tax credits for qualifying sick leave and family...

11 Jun

Federal Tax

IRS Tips to Protect Against Identity Theft

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June 9, 2021

Tax-related identity theft occurs when stolen data, such as a Social Security number, is used to claim a false refund. To protect yourself and prevent tax crimes, consider tips offered by the IRS....

05 Jun

Coronavirus Stimulus Bill, Federal Tax

EIP Update

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June 3, 2021

The IRS and the U.S. Department of the Treasury recently announced that an additional 1.8 million Economic Impact Payments (EIPs) have been disbursed under the American Rescue Plan Act (ARPA). So far under the...

02 Jun

Federal Tax

Review Federal Withholding Annually

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May 27, 2021

To avoid a surprise when you file your tax return, review your federal withholding each year to make sure you’re not having too little (or too much) tax withheld from your paychecks. In general,...

29 May

Federal Tax

New Vehicle Added to Qualified Plug-In Electric Credit

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May 27, 2021

The IRS has added the 2021 Bentley Motors Bentayga Hybrid SUV to its list of qualified plug-in electric drive motor vehicles. The tax code provides a credit to purchasers of qualified plug-in electric drive...

25 May

Coronavirus Stimulus Bill, Federal Tax

IRS Guidance on ARPA COBRA Provision

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May 24, 2021

The IRS has issued guidance on the American Rescue Plan Act provision that provides temporary premium assistance for COBRA continuation coverage and a credit to entities that maintain group health plans. The law provides...

22 May

Federal Tax

2021 Advance CTC Credits to Begin on July 15

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May 18, 2021

The IRS has announced that the 2021 advance child tax credit (CTC) payments, provided for in the American Rescue Plan Act (ARPA), will begin being made on July 15. For 2021 only, the ARPA...

14 May

Federal Tax

May 17 Superseding Tax Return Deadline

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May 13, 2021

The National Taxpayer Advocate (NTA) is reminding taxpayers that if they want to file a “superseding” tax return to change their filing status from married filing jointly to married filing separately or, if eligible,...

14 May

Federal Tax

IRS Announces Inflation-Adjusted HSA Thresholds

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May 12, 2021

The inflation-adjusted Health Savings Account (HSA) thresholds for next year have been announced by the IRS. For calendar year 2022, a high deductible health plan is one with: 1) an annual deductible of at...

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