Will Child Tax Credit Payments Impact Your Taxes?

July and August Child Tax Credit (CTC) prepayments have now been distributed to qualifying families across the country. The cash payments were added as part of the myriad of relief enacted through the American Rescue Plan of 2021 (ARPA). ARPA expanded the Child Tax Credit to $3,600 per child under 6, $3,000 for children ages 6 to 17, and $500 for 18-year-old children or full-time students who are 19 to…  Read more


It’s Time to Apply for PPP Loan Forgiveness

If you received a Paycheck Protection Program (PPP) loan and you have already spent your First or Second Draw funds, it’s time to apply for PPP loan forgiveness. Depending on which draw you received, there are a few things you should know. First Draw PPP loan recipients qualify for full loan forgiveness if they meet the following criteria: Staffing and compensation levels stayed the same during the covered period. At…  Read more


Overview of Pandemic Relief Bill for Individuals

Below is a summary of the stimulus relief for individuals that is part of the Consolidated Appropriations Act, 2021 (H.R. 133) which was signed into law on 12/27/2020. Second round of stimulus checks/direct deposits Stimulus payments should start being processed in the coming week(s). Stimulus payments are $600 for each individual ($1200 per couple) and $600 for children age 17 and under. The amount of the stimulus payment will start…  Read more