Tax credits

The Internal Revenue Service is giving employers more leeway in claiming the Work Opportunity Tax Credit to hire people in underprivileged areas who face significant obstacles to employment for jobs in summer youth and community programs.

36 million taxpayers should start seeing their second CTC payments today, though the IRS had some caveats.

Congress is weighing a proposal to end the tax break next month to pay for the bipartisan infrastructure plan.

The problem with some tax credits; a PPP forgiveness portal; crypto replies; and other highlights from our favorite tax bloggers.

Changes to the Child Tax Credit may require a second look as the system gets simultaneously simpler and more complex.

The bipartisan infrastructure bill would end a tax break Congress crafted to help businesses struggling during the pandemic but relatively few companies have claimed.

Employers can claim tax credits equivalent to the wages paid for providing paid time-off to employees to take a family or household member or certain other individuals to get vaccinated for COVID-19.

Roughly 4 million or more households are likely to fail to get the funds because they don’t appear on a prior tax return.

The Internal Revenue Service’s Criminal Investigation division is cautioning taxpayers and tax professionals to beware of scams related to the expanded Child Tax Credit in which fraudsters are trying to steal money and personal information.

The IRS and the Treasury started disbursing advance monthly payments Thursday of the expanded Child Tax Credit in a program that aims to lift millions of families out of poverty.