We have a complete tax update service for CPAs, attorneys, CLUs, CFPs, ChFCs, trust officers and other professional friends. The GiftLaw services are made available to all advisors as a free service. We are available to assist in helping you provide clients with clear and understandable gift illustrations.
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On September 15, 2021, the Internal Revenue Service sent out the third set of Advance Child Tax Credit (ACTC) payments. Over 35 million families received a total of approximately $15 billion in payments. Most of the payments were direct deposits to bank accounts. The remaining ACTC payments are scheduled for October 15, November 15 and December 15. Qualifying families will receive payments of up to $300 per month for dependent children under age 6 and up to $250 per month for children ages 6 through 17. The IRS reminded families who have not filed a 2020 income tax return that they still are eligible to sign up. There is a Non–Filer Signup Tool on IRS.gov. This week a House of Representatives committee took action on the Build Back Better (BBB) Act. It includes a four-year extension of the Child Tax Credit. The bill is now pending in the House of Representatives, but a vote may take place by the end of September. House and Senate leaders hope to have a final bill enacted in October. In addition to the child tax credit, which has a potential cost of $100 billion per year,...
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GiftLaw Pro is a complete charitable giving and tax information service inside the GiftLaw website...
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The GiftLaw Calculator is a planned gifts calculator for professionals that follows the IRS format. Click here to access and run charitable deduction calculations for your favorite gift plan...
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