The American Rescue Plan Act of 2021 expanded tax benefits to reduce the cost of health insurance premiums. But these benefits are scheduled to expire at the end of 2022. Colorado Democratic Senators Bennet and Hickenlooper have proposed that the advanced premium tax credit (APTC) be made permanent. According to the senators, the APTC helped […]
Read More American Rescue Plan Act sunset coming soonThe electric vehicle (EV) tax credit begins to phase out when 200,000 of a manufacturer’s qualifying vehicles have been sold. But automakers are telling Congress, not so fast! In a letter, GM, Ford, Chrysler and Toyota asked Congressional leaders to give all electric car and light truck buyers a tax credit of up to $7,500. […]
Read More EV creditsThe IRS recently announced that it’ll increase the standard mileage rate for qualified business driving for the second half of 2022. The adjustment reflects the soaring cost of gasoline this year. In fact, as of June 13, the nationwide average price of regular unleaded gas was $5.01 a gallon, according to the AAA Gas Prices […]
Read More Standard business mileage rate will increase for the second half of 2022Congress is getting serious about addressing the confusion surrounding the tax treatment of digital assets such as cryptocurrencies. A bipartisan bill dubbed the Responsible Financial Innovation Act was recently introduced in the U.S. Senate. The bill would establish a regulatory framework for digital assets. The first-of-its-kind proposed legislation would attempt to validate the mainstream use […]
Read More Guidance coming on tax aspects of cryptocurrenciesA short video explaining how the new automated system works. IRS Authenticated Collection Voice Bot https://bit.ly/3O32vyz
Read More A walk thru of the new IRS voice botAre you a tax whiz? Take the quiz
Read More Are you a tax whiz? Take the quizIRS rolls out artificial intelligence to help callers make payments, resolve simple tasks – ABC News https://abcn.ws/3tJvWNM
Read More Invasion of the bots?The deadline for the Real ID is under a year away: Here’s how to upgrade while dodging the DMV – Grow from Acorns + CNBC https://bit.ly/3O4jqkf
Read More Real ID deadline approachingThe IRS is cautioning taxpayers with pending tax bills to contact them directly and not use unscrupulous tax companies that falsely claim that they can resolve unpaid taxes for pennies on the dollar. Offer in compromise (OIC) “mills” make outlandish claims about how they can settle a person’s tax debt. The reality usually is that […]
Read More Don’t fall for this scamFBI says fraud on LinkedIn a ‘significant threat’ to platform and consumers – CNBC https://cnb.cx/3O0afB3
Read More LinkedIn fraud alert
