Build Back Better Act

September 22, 2021By Smeriglio Associates LLCNews

The $3.5 trillion human infrastructure bill (the “Build Back Better Act”) is progressing through Congress. The House Ways and Means Committee has approved its sections of the bill that mostly address social issues and plans to pay for them with tax increases on the wealthy and corporations. Democratic committee members dispatched some 66 amendments offered … Read More

IRS: Child Tax Credit Payments

September 21, 2021By Smeriglio Associates LLCNews

Eligible families are now receiving their September advance Child Tax Credit payments. This third batch of advance monthly payments, totaling about $15 billion, is reaching about 35 million families. Future payments are scheduled for October 15, November 15 and December 15. Eligible families who didn’t receive payments in July or August and are getting their … Read More

IRS: October 15th Extension

September 20, 2021By Smeriglio Associates LLCNews

Did you request an extension from the IRS to file your 2020 tax return? If so, the Oct. 15 deadline is coming up soon. Taxpayers who asked for an extension should file on or before the extension deadline to avoid a penalty for filing late. Although Oct. 15 is the last day for most people … Read More

IRS: 10% Additional Tax on Distributions

September 18, 2021By Smeriglio Associates LLCNews

The IRS recently issued a series of frequently asked questions addressing one of the exceptions to the 10% additional tax on early distributions from qualified retirement plans. Most retirement plan distributions are subject to income tax and may be subject to an additional 10% tax. Generally, the amounts a taxpayer withdraws from an IRA or … Read More

Estate planning in a socially distanced environment

September 16, 2021By Smeriglio Associates LLCNews

As many states continue to struggle with the current surge in COVID-19 cases, the “new normal” demands continued social distancing in many areas of life. What does this mean for estate planning? Clearly, estate planning is as important today — or arguably more important — than ever. But how do you plan your estate and … Read More

5 questions to ask about your marketing efforts

September 15, 2021By Smeriglio Associates LLCNews

For many small to midsize businesses, spending money on marketing calls for a leap of faith that the benefits will outweigh the costs. Much of the planning process tends to focus on the initial expenses incurred rather than how to measure return on investment. Here are five questions to ask yourself and your leadership team … Read More