The 2021 advance child tax credit (CTC) payments, which were established under a recent law, will begin being made on July 15, 2021, the IRS announced. The tax agency also stated that “roughly 39 million households — covering 88% of children in the United States — are slated to begin receiving monthly payments without any further action required.”
The COVID-19 crisis currently coloring all aspects of our lives has even led to considerations related to the tax deductibility of fixed asset transactions. Here are some planning opportunities to consider that can provide businesses with financial benefit.