Advance Child Tax Credit Payments

The IRS has begun depositing the 2021 Advance Child Tax Credit funds into taxpayers’ bank accounts which has resulted in some confusion. Below are some FAQs about the expanded child tax credit payment. Q: Is this another stimulus check? A: No, this is an advance on a 2021 Child
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Tax Updates

Here is the latest update on the preparation processes for business and individual income tax returns and the upcoming deadlines. 2020 Individual Income Tax Return As many of you know, your 2020 Federal Individual Tax Return is due on Monday, May 17, 2021. The date was extended from t
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Update to Communications with BWTP

Now that we are deep within tax season, we want to revisit communications with our office and your expectations. With COVID still around, we are continuing our no face-to-face meeting policy, so transfer of documents and information will be taking place through the mail or our drop-of
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Tax Day for Individuals Extended to May 17: Treasury, IRS Extend Filing and Payment Deadline

The Treasury Department and Internal Revenue Service announced that the federal income tax filing due date for individuals for the 2020 tax year will be automatically extended from April 15, 2021 to May 17, 2021. The IRS will be providing formal guidance in the coming days. Individual
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Congress Passes The American Rescue Plan Act (ARP Act)

Today the House passed the American Rescue Plan Act (ARP Act) of 2021 (the stimulus package) with the amendments passed by the Senate, and the Act is expected to be quickly signed by the President. Below are some highlights of the ARP Act. $1,400 per person stimulus payments for taxpa
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