The 2021 Child Tax Credit Update - Important changes to the Child Tax Credit (CTC) will help many families get advance payments of the Child Tax Credit starting in the summer of 2021. Half the total credit amount will be paid in advance monthly, and you will claim the other half when you file your 2021 income tax return. The IRS will issue the first advance payment on July 15, 2021. The new “Child Tax Credit Update Portal” allows parents to view...
Do a Paycheck Checkup and See If You Are You Taking Home Too Much Money The Tax Cuts and Jobs Act made major changes to the tax law. Because of this, you should do a paycheck checkup and see if you are taking home too much money using the Withholding Calculator on IRS.gov and, if necessary, complete a new W-4 form. The calculator will help determine the right amount of withholding and can help prevent having too little (or too much) tax withheld. Recent changes affecting withholding include: Reduced...
