‘Tax Credit’

The Employee Retention Credit (“ERC”) was originally enacted as part of the first wave of pandemic relief in March of 2020. Since then, it has been modified and expanded to make many small businesses eligible. Many business owners think they are only eligible if their business was shut down. If…

In June, the IRS sent letters regarding advance payments of the Child Tax Credit (CTC) to potentially eligible taxpayers. For 2021 only, the CTC increases to $3,000 per child between the ages of 6 and 17, and $3,600 per child under the age of 6. From July to December 2021,…