- Video Tips: Positive News for the 2021 Earned Income Tax Credit
- The Earned Income Tax Credit has been expanded and enhanced for low-income taxpayers who file their tax returns for 2021. Watch this video for details.
- Inheritances Enjoy a Special Tax Benefit
- You may hear people use the term “Stepped-Up Basis” that many believe is a tax provision that allows beneficiaries of an inheritance to reduce or even avoid taxes when and if they sell inherited property.
- Gambling and Tax Traps
- Although gambling may seem to be a recreational activity for many taxpayers it is not for THE government. They look at it as a source of tax revenue and as one might expect, the government takes a cut if a gambler wins. What makes matters worse, tax laws do not allow recreational gamblers to claim a loss in excess of their winnings. There are far more tax issues related to gambling than one might expect, and they may impact taxes in more ways than one might believe. Here is a rundown on the many issues:
- Return Being Processed Means The IRS Received Your Tax Return, But It Could Still Be Delayed.
- Even with the delays, the IRS owes you interest on your money. The IRS has administrative time (typically 45 days) to issue your refund without paying interest on it.
- Video Tips: Don't Miss Out on Lucrative Tax Benefits
- Watch this video to learn more about tax benefits that individuals and families with low income can claim on their 2021 tax returns.
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