Still Waiting For Your Tax Refund?
Nichols & Company ensures that the IRS accepts your return electronically; but after that point, they do not communicate with us about the status of your return. We have heard from our clients and in the news that the IRS is slow to process returns and issue...
New Tax Year 2021 Changes Brought About By the American Rescue Plan
The American Rescue Plan provides some great benefits for working parents with young children: The child care credit has been expanded. The new law increases the amount of the credit, as well as the percentage of employment-related expenses for qualifying care...
Consolidated Appropriations Act Provides Relief to Individuals and Businesses
On Sunday, December 27, 2020, the Consolidated Appropriations Act, 2021 (CAA 2021) was signed into law. A $900 billion emergency relief package is included as part of this omnibus spending bill. It is intended to assist individuals and businesses during the ongoing...
Temporary Special Rules for Health & Dependent Care Flexible Spending Arrangements
The CARES Act extensions and pandemic provisions bill allows taxpayers to roll over unused amounts in their health and dependent care flexible spending arrangements from 2020 to 2021 and from 2021 to 2022. This provision also permits employers to allow employees to...