To help employers contend with the uncertainty and challenges brought on by the COVID-19 outbreak, recent legislation has made new relief opportunities available. We outline the details of three of these opportunities—theemployee retention tax credit(ERTC), the paid sick leave credit, and the pai...
IRS ends COVID-19 tax credits: Here's what you need to know before filing in 2023 IRS tax credit changes could mean your refund is smaller this year An end to COVID-19-era tax breaks will change how taxpayers file deductions this year and will likely mean smaller refunds or bigger bala...
January 27, 2025. In a few recent years, the tax start date was delayed a few weeks into February, with the complexities created by COVID and stimulus checks. This year, the start of tax season is moved back to January. I’ll detail what this means and more below....
Low-wage workers have been among the hardest hit during the pandemic, said Samantha Waxman, senior policy analyst at the Center on Budget and Policy Priorities. "These folks have been more likely to lose their jobs and their income due to Covid-19," she said. "Or if they work as front...
The credit is available for an employer[1] whose operations have been partially or fully interrupted on account of a government order that limits commerce, travel or group meetings (for commercial, social, religious or other purposes) due to COVID-19 or whose gross receipts for the 2020 cale...
The effect of state Earned Income Tax Credit (EITC) eligibility on food insufficiency during the COVID-19 pandemic Article 24 December 2022 Data Availability This article uses data from the United Census Bureau’s Household Pulse Survey. The data is publicly available here: https://www.census...
Eligibility for the ACA premium tax credit program was temporarily expanded during the COVID-19 pandemic to allow more individuals and families to claim the refundable tax credit. As a result, the ACA premium tax credit is extended for three more years, which means that more people will likely...
Just as the monthly child tax credit payments are starting, other programs that have helped Americans stay afloat during the Covid-19 pandemic are coming to an end. "The timing of this stimulus is particularly helpful as enhanced unemployment benefits begin to roll off in ...
The expanded child tax credit (CTC) payments have been a lifeline for many American families during the coronavirus pandemic. The vast majority (77%) of beneficiaries have been using the $300 monthly payment for household spending and paying down debt, according toCensus Bureau data. ...
and fully refundable Child Tax Credit was enacted as part of the American Rescue Plan Act, a law formally targeted at relieving the economic problems created by the COVID-19 pandemic. It also addressed many limitations considered problematic in the earlier versions of the Child Tax Credit.8 ...