Part of President Biden’s “Build Back Better” proposal includes increasing the EV tax credit from $7,500 to $12,500. The current program caps the $7,500 tax credit to 200,000 electric vehicles per manufacturer. The updated proposal is also looking at changing it from a tax credit to an incentive that can be utilized even if a tax […]
EV Tax Credit Increase to $12,500? Read More »
Democrats are trying to find ways to fund new social program initiatives. One of the ways is through a proposal requiring banks to report additional information from taxpayers as a way to find additional taxes from unidentified income. What exactly do the Democrats want the banks to report to the IRS? The sum of deposits
IRS Bank Reporting Plan Read More »
Today, qualifying families with children should have seen a deposit from the treasury for the advanced child care credit. This money is not free money that won’t be accounted for during tax season and in fact is just an advance of the child tax credit that most families claim as a credit against taxes owed.
Changes to Child Tax Credit? Read More »
