We’re diving in, with sleeves rolled up, with a bunch of our clients in creating the best tax return possible for their 2020.
But we’re also keeping an eye on the Congressional conversation around the “American Rescue Plan” (or Stimulus Round 3) presented by President Biden.
Lots of political “smoke” around this, but as of this writing, no fire — meaning, nothing has passed, yet.
In general, we prefer to keep focused on what actually *is* before dealing in speculations.
But the plan, as it’s currently being discussed, includes:
- An expansion of individual stimulus checks ($1,400 per person)
- An increase in the Child Tax Credit
- An expansion of the Earned Income Tax Credit (and a few other related credits)
- Extension to September and increase (from $300 to $400/wk) in federal unemployment compensation
- Increase in the federal minimum wage to $15/hr
- Assistance to renters and small landlords
There’s more, and the devil is in the details … but we will reserve further comment until something actually gets passed — instead of merely discussed.
We shall see.
For now, just keeping you posted on what MIGHT be happening rather soon, and letting you know we are staying on top of it to make sure YOU get every benefit you can (legally and ethically, of course).
We hope these updates are of value to you.
All of our contact info is available at www.pronto4tax.com, please reach out anytime we can be of service to you or any referrals you send our way (thank you).