Nearly 24 million taxpayers are still waiting for the Internal Revenue Service to process their tax returns from last year — a number far larger than previously reported by the agency — with many refunds being held up for 10 months or more. The inventory of...
In 2022, the solar investment tax credit, or ITC, offers a federal tax credit of 26% when you install solar panels on your property. The ITC has many names. When doing your research, you may see mentions of the federal solar tax credit, IRS solar tax credit, solar tax...
Capital gains are the profits from the sale of an asset — shares of stock, a piece of land, a business — and generally are considered taxable income. How much these gains are taxed depends a lot on how long you held the asset before selling. In 2021, the capital gains...
Child care expenses in 2021 could give many parents a much bigger refund in 2022. Tax season officially starts Jan. 24, and big changes to the child and dependent care credit in 2021 mean that parents and caregivers could see a large increase in their tax refunds this...
Many businesses have received federal relief grants and loans since the onset of the COVID-19 pandemic. Here’s how each one is handled when it comes to federal taxation. COVID-19 EIDL Loan Unlike some other relief programs, the COVID-19 Economic Impact Disaster Loan...
The Internal Revenue Service announced today that the 2022 tax filing season will open on Monday, January 24th, 2022. That’s when the IRS will start accepting federal income tax returns for the 2021 tax year whether you file electronically or on paper. It’s the third...