Each year standard mileage rates for business travel, medical driving, moving mileage and mileage rates for charitable driving are set by the IRS. Current Mileage Rates   Mileage Type 2020 2021 2022 Business miles 57.5¢…

Thanks to recent legislation, the whirlwind of tax changes just keeps going. Now if you have children 17 or under there is a new, higher child tax credit in place for 2021. Here is what…

NJ & PA personal returns now due May 17 Last week, the IRS and U.S. Treasury extended the federal income tax filing and 2020 payment deadline for individuals from April 15 to May 17. As…

A surprise tax break for 2020 was passed into law in March’s American Rescue Plan Act. It may impact your situation if you received unemployment income this past year. Background on Pandemic Related Unemployment Unemployment…

The latest COVID-19 relief bill introduced another round of stimulus checks. However, this time with different restrictions. The IRS has already started sending stimulus money into the bank accounts of the recipients. Alloy Silverstein answers…

April 15 → May 17   It’s official. Late on Wednesday, March 17, 2021 the Treasury and IRS confirmed that the federal individual tax deadline will be automatically postponed to May 17, 2021.   Who is…

A Breakdown of the New $1.9 Trillion Relief Bill The latest COVID-19 relief bill has made its way through the U.S. Senate, House of Representatives, and is expected to be signed by President Biden by…

No one likes surprises from the IRS, but they do occur from time to time. Here are some situations that could happen, and what to do about them. An expected refund turns into a tax…