How Long Should You Keep Your Tax Records

Federal law requires you to maintain copies of your tax returns and supporting documents for three years. This is called the “three-year law” and leads many people to believe they’re safe provided they retain their documents for this period of time. However, if the IRS believes you have significantly underreported your income (by 25 percent […]

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Child Tax Credit | Earned Income Tax Credit | Dependent Care Credit

Child Tax Credit monthly payments that some of taxpayers are currently receiving is part of next year’s tax refund for when we file our 2021 tax returns. Whether or not you qualify has everything to do with your AGI (Adjusted Gross Income). It is important that you have an understanding because if you don’t qualify, […]

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