The American Rescue Plan, or ARP, excluded up to $10,200 in unemployment compensation from each taxpayer’s taxable income. But some people filed their returns and paid taxes on the full amount of their unemployment benefits before the ARP became law, so the IRS is working to send those taxpayers a refund.… Read more about Refunds Could Be Issued for Overpayment of Tax on Unemployment (Feed generated with FetchRSS) – Story provided by TaxingSubjects.com…

The IRS announced that it is now also offering online tax information in Spanish, Chinese (simplified and traditional), Korean, Russian, Vietnamese, Haitian-Creole, and more.… Read more about IRS Adding Resources in Multiple Languages (Feed generated with FetchRSS) – Story provided by TaxingSubjects.com…

The Internal Revenue Service has rolled out a new online tool that’s built to help families register for monthly Advance Child Tax Credit payments.… Read more about New Online Tool Helps Low-Income Families Register for Advance CTC Payments (Feed generated with FetchRSS) – Story provided by TaxingSubjects.com…

The American Rescue Plan (ARP) put some sweeping changes in place to help the U.S. tax code deal with the effects of the coronavirus pandemic. To help provide guidance to families and small business who might claim some of ARP’s major credits, the IRS has issued two sets of frequently asked questions or FAQs.… Read more about IRS Announces FAQs for Childcare and Paid Leave Credits (Feed generated with FetchRSS) – Story provided by TaxingSubjects.com…

The Internal Revenue Service says it sent out millions of additional American Rescue Plan (ARP) payments to taxpayers in just a two-week period, pushing the total number of payments issued under the new law to just under 170 million.… Read more about Nearly 170 Million American Rescue Plan Payments Sent So Far (Feed generated with FetchRSS) – Story provided by TaxingSubjects.com…

Congress has passed a number of coronavirus relief packages throughout the pandemic. While the three rounds of Economic Impact Payments are the most famous provision of those legislative efforts, they were technically an advance on the new Recovery Rebate Credit.… Read more about Millions of Taxpayers to Receive IRS Letter about the Advance Child Tax Credit (Feed generated with FetchRSS) – Story provided by TaxingSubjects.com…