Joy Taylor
Editor, The Kiplinger Tax Letter
Prior to joining Kiplinger in 2010, Joy worked as a tax attorney in Washington, D.C., for 15 years. She earned an accounting degree and a JD from the University of Houston, and a master's degree in tax law from New York University. After years of working in big law firms, Joy saw the light and now puts all of her education and legal experience to use in writing about taxes for the Tax Letter and Kiplinger.com.
Tax Changes and Key Amounts for the 2021 Tax Year
tax law
Tax Changes and Key Amounts for the 2021 Tax Year
Americans are facing a long list of tax changes for the 2021 tax year. Smart taxpayers will start planning for them now.
September 23, 2021
Child Tax Credit 2021: How Much Will I Get? When Will Monthly Payments Arrive? And Other FAQs
Coronavirus and Your Money
Child Tax Credit 2021: How Much Will I Get? When Will Monthly Payments Arrive? And Other FAQs
People have lots of questions about the $3,000 or $3,600 child tax credit and the advance payments that the IRS is sending monthly to most families – …
September 22, 2021
21 IRS Audit Red Flags
tax returns
21 IRS Audit Red Flags
These actions and tax positions could increase your chances of the IRS selecting your return for audit.
September 22, 2021
2 Tax Credits to Claim for Energy-Efficient Home Renovations
tax planning
2 Tax Credits to Claim for Energy-Efficient Home Renovations
These tax incentives reward energy-efficient home improvements in different ways. Which credit you use depends on the remodeling you do.
August 11, 2021
Know the Rules for Renting Out Your Vacation Home
Becoming a Homeowner
Know the Rules for Renting Out Your Vacation Home
Make sure you understand when you must pay taxes on rental income you earn and when you can deduct expenses for the upkeep of the property.
June 30, 2021
Child Tax Credit 2021: Opting Out of Monthly Payments
Tax Breaks
Child Tax Credit 2021: Opting Out of Monthly Payments
The IRS has a new tool for eligible families who want to opt out of the $250 or $300 monthly child tax credit payment.
June 22, 2021
How to Get Child Tax Credit Payments if You Don't File a Tax Return
Tax Breaks
How to Get Child Tax Credit Payments if You Don't File a Tax Return
Child tax credit payments are generally based on information from 2020 or 2019 returns, but non-filers can still get payments. The easiest way is to u…
June 14, 2021
Child Tax Credit Update: IRS Sending Letters to Families Who May Get Monthly Payments
Tax Breaks
Child Tax Credit Update: IRS Sending Letters to Families Who May Get Monthly Payments
The IRS has identified over 36 million families that may qualify for monthly child tax credit payments of up to $300 per child. The payments will begi…
June 7, 2021
Monthly Payments of the 2021 Child Tax Credit Will Begin July 15
Tax Breaks
Monthly Payments of the 2021 Child Tax Credit Will Begin July 15
The IRS says it's on schedule to start sending monthly child tax credit payments this summer.
May 17, 2021
Biden Wants to Extend the $3,600 Child Tax Credit Through 2025
Tax Breaks
Biden Wants to Extend the $3,600 Child Tax Credit Through 2025
If President Biden's proposal is enacted, eligible families could receive monthly payments for years.
April 28, 2021
Medical Expenses Retirees (and Others) Can Deduct on Their Taxes
tax deductions
Medical Expenses Retirees (and Others) Can Deduct on Their Taxes
The list of medical deductions is broad and includes items such as expenses for service animals and the cost of long-term care.
April 14, 2021
Families Get a $3,000 Child Tax Credit for 2021
Coronavirus and Your Money
Families Get a $3,000 Child Tax Credit for 2021
President Biden's stimulus package temporarily increases the child tax credit to $3,000 or $3,600 per child for most families. Half of it will be paid…
March 11, 2021
Congress Passes $3,000 Child Tax Credit for 2021
Coronavirus and Your Money
Congress Passes $3,000 Child Tax Credit for 2021
The provision would temporarily increase the child tax credit to $3,000 or $3,600 per child for most families and have 50% of it paid in advance by th…
March 10, 2021
House Approves $3,000 Child Tax Credit for 2021
Coronavirus and Your Money
House Approves $3,000 Child Tax Credit for 2021
The proposal would temporarily increase the child tax credit to $3,000 or $3,600 per child for most families and have 50% of it paid in advance by the…
February 27, 2021
Tax Tip: Reporting a 2020 RMD From an IRA That You Later Returned
Coronavirus and Your Money
Tax Tip: Reporting a 2020 RMD From an IRA That You Later Returned
If you paid back a "required minimum distribution" from an IRA last year, you still have to report the payout on your 2020 tax return.
February 23, 2021
The Biden Stimulus Plan: Push for a Higher Child Tax Credit Continues
Coronavirus and Your Money
The Biden Stimulus Plan: Push for a Higher Child Tax Credit Continues
The proposal currently on the table would increase the child tax credit to $3,000 or $3,600 per child and have the IRS pay 50% of it in advance.
February 16, 2021
How 10 Types of Retirement Income Get Taxed
retirement
How 10 Types of Retirement Income Get Taxed
When you're planning for retirement, it's fun to contemplate all the travel and rounds of golf ahead of you, but don’t forget about taxes.
February 9, 2021
House Democrats Propose Monthly Payments of Up to $300 Per Child
Coronavirus and Your Money
House Democrats Propose Monthly Payments of Up to $300 Per Child
A bill in Congress would increase the child tax credit and have 50% of it paid in advance by the IRS from July through December.
February 9, 2021
Tax Changes and Key Amounts for the 2020 Tax Year
tax law
Tax Changes and Key Amounts for the 2020 Tax Year
There were a lot of tax changes for the 2020 tax year. Get familiar with them now – before you file your 2020 tax return.
February 8, 2021
Mitt Romney's Higher Child Tax Credit Comes With a Twist
Coronavirus and Your Money
Mitt Romney's Higher Child Tax Credit Comes With a Twist
The Senator is calling for monthly payments of $250 or $350 per child, but he also wants to eliminate other family friendly tax breaks.
February 4, 2021
Republican Senators' Plan Drops the $3,000 or $3,600 Child Credit
Coronavirus and Your Money
Republican Senators' Plan Drops the $3,000 or $3,600 Child Credit
A plan by 10 moderate GOP Senators omits Biden's proposal for a higher temporary child tax credit.
February 2, 2021
18 Believe It or Not Tax Breaks
Tax Breaks
18 Believe It or Not Tax Breaks
Your fellow taxpayers have successfully claimed write-offs for many things that most of us wouldn't even imagine. But be careful if you plan on follow…
January 27, 2021
Biden's Stimulus Plan Includes $3,000 Child Tax Credits
Coronavirus and Your Money
Biden's Stimulus Plan Includes $3,000 Child Tax Credits
The president is calling for a temporary tax credit of $3,000 per child (more for younger children).
January 27, 2021
17 Nice-Try Tax Breaks Rejected by the IRS
Tax Breaks
17 Nice-Try Tax Breaks Rejected by the IRS
Everyone wants to lower their tax bill—but sometimes people try a little too hard.
January 26, 2021
12 IRS Audit Red Flags for Retirees
retirement
12 IRS Audit Red Flags for Retirees
Seniors Beware: Your actions can increase the chances of the IRS giving your tax return a closer look.
January 14, 2021
Considering Divorce? Beware of Retirement Account Breakups
Divorce
Considering Divorce? Beware of Retirement Account Breakups
Gray divorce issues include weaving through the complications of splitting pensions, 401(k)s and more before the process is complete.
January 4, 2021
Biden's Plan to Tax the Rich Faces Roadblocks
Politics
Biden's Plan to Tax the Rich Faces Roadblocks
The president-elect is unlikely to get much on his wish list, with the Democratic majority in the House narrowed and the GOP likely keeping control of…
November 16, 2020