At the beginning of March 2023, President Biden's proposed budget for 2024 includes a plan to renew and expand the child tax credit, a policy that has gained popularity and bipartisan support. The child tax credit expansion was introduced as part of the American Rescue Plan in 2021 and has been credited with providing critical financial support to families with dependent children during the COVID-19 pandemic. If the budget proposal passes, the current maximum credit of $2,000

While you can sell your own house, represent yourself in court, and do your taxes without professional assistance, there are still advantages to working with professionals in their field. These experts bring knowledge and experience that can save you time, effort, and stress in the long run. Before deciding to take on a task without professional help, it's important to consider whether it will truly save you money, or if it could end up costing you more in the end. Consider t

KEY POINTS Communication with the IRS is essential to avoid additional penalties and interest. It's important to understand what you owe and why and take action as soon as possible. There are several options available for getting rid of tax debt, including setting up an installment agreement, making an offer in compromise, and taking advantage of tax relief programs. Working with a qualified tax professional can help you navigate the complex IRS rules and regulations and nego