Tax & Accounting News

The Weekly (Tax)Buzz - August 18, 2021

The Weekly (Tax)Buzz - August 18, 2021

If you feel like the news is tough to keep up with these days, you aren’t alone. Every week, we publish a curated list of some of the top articles in tax and finance. Tune in every Wednesday to read the latest thought leadership pieces from our favorite bloggers, US tax proposals, tax crime stories, and much more.

The (Tax)Buzz this week: The largest tax fraud case in US history, child tax credit confusion, social security changes and more.

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The Washington Post: Tax Blotter: The story behind the alleged largest tax fraud case in US history. Over 2 billion in taxes may have been evaded. 

CNET: There is a lot of confusion about the child tax credit eligibility, total payment amounts, and opt-out procedure. Check out the update portal for more details.

Yahoo! Finance: According to the Pew Research Center, it takes more money than you think to be considered middle class. Where do you land with your household income?

Forbes: There were plenty of IRS payments last month, but many who are still waiting for refunds remain frustrated.

CBS News: The second monthly payment for the Child Tax Credit is coming for some families in August. Here is when you can expect to get it.

CNBC: Social security cost of living adjustment could go up in 2022.

Bonus content: 

  • (NEW) Registration has begun for the next ClientWhys 16-Hour Virtual Tax Update & Review Conference! Choose your own dates between November 2021 and January 2022 for the 8 breakdown sessions. The agenda will include everything you need to know for the 2021 tax season. Our special early registration price of $229 (regular $249) ends August 31st, so don’t delay! Register here.
  • The Big Book of Taxes 365, our 1250+ page online tax research library, has been updated with all the latest information on the American Rescue Plan. Annual access costs only $95! Purchase yours here.
  • 19 Free White Paper Downloads – With the constant changes in legislation and rules governing our industry, it can be hard to keep up. That’s why the tax experts at TaxCPE / ClientWhys put together 19 free white papers on the most important tax issues during COVID-19.

Don’t miss our latest TaxBuzz posts: 

  • TaxBuzz Chat: Tax Workflows, Favorite Processes, & Client Experience
  • Some Tax Breaks Could Actually Cost You Money. Here's How to Know the Difference.
  • Space Tourism Tax: Congressman Announces New Plan After Jeff Bezos' First Spaceflight
  • Two Congressmen Have Introduced a Tax Preparer Regulation Bill: Here's What It Includes

Did we miss a great article this week? Let us know in the comments below!

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Lauren Detweiler

Lauren Detweiler

I am equal parts marketer, traveler, and writer, and I've been doing all three for as long as I can remember. I have spent most of my time since graduating university traveling and working remotely in Africa and Europe. My passion lies in conveying the right messaging to the right people, and being a part of the CountingWorks and TaxBuzz team means I get to do that not only for our company, but for clients across the country as well.

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