Federal and state taxation
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IRS to Send Advanced Child Tax Credits Starting in July
The American Rescue Plan (ARP) increased the 2021 child tax credit from $2,000 per child to $3,000 for each child ages 6 to 17, and $3,600 for children under the age of 6. The ARP also called for the IRS to deliver half of the expected credit to families eligible beginning in July. The advanced […]
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Breaking News – IRS to Extend Tax Deadline
According to Bloomberg News, the IRS is planning to extend the April 15th tax filing deadline to around mid-May. The move would allow taxpayers additional time to file returns and meet their tax obligations.