Eligible families may see a boost in child tax credits as a bipartisan bill known as the Tax Relief for American Families and Workers Act of 2024 progresses through the legislative process. Here’s an overview of the tax bill and what it could mean for American...
child tax credit
Tax Credits and Tax Deductions: What’s the Difference?
If you want to end up owing less money to the IRS after filing your taxes (and who doesn’t?), claiming tax credits and deductions can greatly help to shrink that number. However, because they work in different ways, understanding the difference between a tax credit...
New Developments in the Republican Tax Bill
Amidst much discussion and disagreement regarding the future of the tax code, the Republican Party pushed back the initial release of their updated tax bill. Just a few days later, the most recent version was provided and below are 12 major changes that would impact most taxpayers: Decreasing the number of income tax brackets Our […]