Tax Laws Archives - Lincoln Tax Professionals https://newsite.lincolntax.com/tag/tax-laws/ Tax Preparers and Tax Consulting Mon, 30 Dec 2024 21:33:56 +0000 en-US hourly 1 https://wordpress.org/?v=6.7.2 https://i0.wp.com/newsite.lincolntax.com/wp-content/uploads/2025/01/Web-Favicon.png?fit=32%2C32&ssl=1 Tax Laws Archives - Lincoln Tax Professionals https://newsite.lincolntax.com/tag/tax-laws/ 32 32 241685655 Businesses and LLCs – Your CTA Time Is Running Out! https://newsite.lincolntax.com/2024/11/25/businesses-and-llcs-your-cta-time-is-running-out/ Mon, 25 Nov 2024 21:31:13 +0000 https://newsite.lincolntax.com/?p=967 In January of this year we sent an email to all of our clients about the new reporting requirement created by the Corporate Transparency Act (CTA).  Well, the rubber has hit the road.  If you or a loved one owns a business or is a member of an LLC, the time is now to make

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]]> 967 Child Tax Credit Increasing? https://newsite.lincolntax.com/2024/01/22/child-tax-credit-increasing/ Mon, 22 Jan 2024 21:21:59 +0000 https://newsite.lincolntax.com/?p=959 A bipartisan group of Senators and Congressmen on Capitol Hill are currently negotiating a bill that includes increasing the Child Tax Credit from $2,000 to $3.6000.  A vote on this bill is expected by the end of January and if passed and made retroactive for 2023 the IRS will need to update their forms and

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]]> 959 Important Information For Business Owners On The Corporate Transparency Act https://newsite.lincolntax.com/2024/01/04/important-information-for-business-owners-on-the-corporate-transparency-act/ Thu, 04 Jan 2024 21:11:50 +0000 https://newsite.lincolntax.com/?p=956 The Corporate Transparency Act (CTA) took effect on January 1, 2024, and imposes a new federal filing requirement for most corporations, limited liability companies (LLCs), and other business entities.   Government law enforcement and security agencies will use this data to help combat money laundering, tax evasion, terrorism, and other crimes. This information will not be available

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