Federal Tax | Cg

25 Feb

It’s Full Speed Ahead for Tax Season!

Posted by cgadmin
February 16, 2021

It’s full speed ahead for the 2020 tax season now that the IRS is accepting returns. Here are some IRS tips to help you avoid common errors that will slow the filing process and...

24 Feb

Federal Tax

New Plug-In Vehicle Models for Tax Break

Posted by cgadmin
February 18, 2021

New Ford and Porsche models join the ranks of plug-in vehicles available for a lucrative tax break. Buyers of certain electric passenger vehicles and light trucks can claim a credit for up to $7,500....

21 Feb

Federal Tax

Qualified Disaster Relief Contributions

Posted by cgadmin
February 18, 2021

A new tax incentive may give disaster relief funds a huge boost to certain donations from corporations. In 2020, the Consolidated Appropriations Act (CAA) established a new category of “qualified disaster relief contributions.” Under...

20 Feb

Federal Tax

Credit for Other Dependents

Posted by cgadmin
February 17, 2021

Do you have a child age 17 or older or other dependent? You can’t claim the Child Tax Credit for these individuals but you may qualify for the Credit for Other Dependents. The maximum...

13 Feb

Federal Tax

Preparing Your Tax Records

Posted by cgadmin
February 11, 2021

The IRS began accepting tax returns on Feb. 12. Ideally, you’ve been gathering tax records all year and have already made an appointment with us. Bring all W-2s, 1099s and documents about state tax...

12 Feb

Families First Coronavirus Response Act, Federal Tax

Sick & Family Leave Tax Credit

Posted by cgadmin
February 10, 2021

Are you self-employed and a survivor of COVID-19? If so, you may be able to claim a sick and family leave tax credit under the Families First Coronavirus Response Act. The law allows certain...

09 Feb

Federal Tax, Helpful COVID-19 Links

COVID-19 Scam

Posted by cgadmin
February 9, 2021

The U.S. Department of Justice (DOJ) and the IRS’s Criminal Investigation division are warning taxpayers about a new wave of COVID-19-related scams. Officials with the DOJ and IRS spotlighted a number of scams, including:...

08 Feb

Federal Tax

IRS Tax Season Points

Posted by cgadmin
February 8, 2021

As tax season kicks off on Feb. 12, 2021, the IRS wants to remind taxpayers of some points they might miss. For example, taxpayers who received interest income (of at least $10) from the...

07 Feb

Federal Tax, Helpful COVID-19 Links

IRS Updates Get My Payment Tool

Posted by cgadmin
February 5, 2021

The IRS has updated its “Get My Payment” tool to include information on how the second Economic Impact Payments (EIPs) will be delivered to eligible individuals to provide COVID-19 relief. Here’s a question that...

01 Feb

Federal Tax, SBA

ERC Extended for Employers Keeping Workers on Payroll

Posted by cgadmin
January 28, 2021

The Employee Retention Credit (ERC) is extended for employers who keep workers on payroll. The recently enacted Consolidated Appropriations Act made several changes to the tax credit, which was created under the CARES Act....

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