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Drake Software blog for tax pros, covering tax, IRS news, and more

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FAQs Updated for Child Tax Credit

Bob Williams - January 13, 2022
FAQs Updated for Child Tax Credit

The Internal Revenue Service says it has updated the online frequently asked questions (FAQs) for the 2021 Child Tax Credit and the Advance Child Tax Credit.…

Read more about FAQs Updated for Child Tax Credit

Last Call for ACTC Signup, Income Changes

Bob Williams - November 01, 2021
Last Call for ACTC Signup, Income Changes

Families who have significant income changes to report for the advance Child Tax Credit payments are running out of time to pass those changes on to the Internal Revenue Service.…

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American Rescue Plan Expands Credits for 2021

Bob Williams - June 04, 2021
American Rescue Plan Expands Credits for 2021

By most measures, 2021 is shaping up to be much better than 2020. The coronavirus appears to be less of a threat, the economy is beginning a comeback, and the American Rescue Plan is expanding some tax credits for parents and others with children.…

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