by Lawhorn Team Professional | Aug 8, 2022 | Advice, Tax
This year, many Americans received a letter from the IRS, asking them to verify their identities online. Some letters warned recipients that fraudulent tax returns had been filed for them. The remedy? A complicated series of steps that includes...
by Lawhorn Team Professional | Jul 12, 2021 | Advice, Business Practices, Financial Planning, Miscellaneous, Tax
According to the Internal Revenue Service, more than 74 million tax returns were filed with the help of a tax professional in 2020. Having a tax accountant help you file your taxes is a great and stress-free way to make sure everything is filed correctly. Your tax...
by Lawhorn Team Professional | Jun 18, 2021 | Advice, Financial Planning, Tax
In March 2021, the American Rescue Plan Act expanded the Child Tax Credit (CTC), providing larger payments and a provision for advance payments on the CTC that will start in July. This tax return advance is intended to support families still struggling with financial...
by Lawhorn Team Professional | Jun 11, 2021 | Advice, Financial Planning, Tax
There’s a lot that we already know about President Biden’s American Families Plan (AFP). With an estimated budget of $1.8 trillion, this infrastructure proposal would raise the top income tax rate to 39.6 percent and...
by Lawhorn Team Professional | May 6, 2021 | Financial Planning, Tax
On April 28,2021, President Joe Biden announced a proposal to support Americans in childcare, family leave, education, etc. This $1.8 trillion American Families Plan includes several tax provisions that range from tax increases for some taxpayers to tax cuts for...
by Lawhorn Team Professional | Jun 8, 2020 | Advice, Business Practices, Miscellaneous, Tax
Congress passed the Coronavirus Aid, Relief, and Economic Security (CARES) Act on March 27, 2020. The US Small Business Administration (SBA) received funding and authority through the Act to modify existing loan programs and establish new loan programs to assist small...
