The IRS recently released two FAQs explaining changes to various credits made by the American Rescue

With the Child and Dependent Care Tax Credit, ARPA has increased the maximum amount of work-related expenses for qualifying care that may be taking into account in calculating the credit and modified how the credit is reduced for higher earners, and made it refundable for 2021. ARPA addresses tax credits for paid leave under ARPA and extended paid sick and family leaves tax credits. It also provided leave wages paid to employees who seek the results of COVID-19 related activities. Eligible employers may now claim the credits for paid family leave wages for all of the same reasons.

If you need help, please do not hesitate to call us at (832) 295-3353, or you can also set up an appointment with us at https://xqcpa-bookme.acuityscheduling.com/schedule.php.Last but not least, please like and share our daily posts to show us your support, we appreciate it very much.