Matthew Lougee

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New Tax Relief Bill Could Affect 2023 Filing Season

New Tax Relief Bill Could Affect 2023 Filing Season

A bipartisan deal known as the Tax Relief for American Families and Workers Act of 2024 could offer a last-minute extension for previously expired tax credits and breaks. If passed, provisions could affect the current 2023 filing season. Update 2.1.24: Last night, the U.S. House of Representatives passed a bipartisan $70 billion tax relief package. […]

Employee Retention Credit: Amend the Proper Return

Employee Retention Credit: Amend the Proper Return

The Employee Retention Credit (ERC) is a refundable pandemic-related tax credit for eligible employers who were fully or partially suspended due to a governmental order or who had a qualifying decline in gross receipts between March 2020 and September 2021 for comparable quarters. The credit may be claimed by filing an amended 941 for the […]

AAFCPAs Announces Tax Team Promotions

AAFCPAs Announces Tax Team Promotions

AAFCPAs, a best-in-class CPA and consulting firm known for tax, assurance, accounting, wealth management, business process, and IT advisory solutions, today announced key employee promotions in our tax practice: Camila Gonzalez Whalen, CPA Promoted to Tax Director Camila joined AAFCPAs in January 2022 as a leader in the firm’s Private Client Services practice, working extensively […]

Child Tax Credit Advance Payments: IRS Letter 6419

Child Tax Credit Advance Payments: IRS Letter 6419

AAFCPAs would like to make clients aware that the IRS has started mailing copies of its Letter 6419, which outlines Advance Child Tax Credit payments that may have been received by taxpayers between July 2021 and December 2021. Taxpayers will need this letter when filing 2021 taxes and to claim the remaining credit. Reporting the […]