There are a few things to keep in mind this coming tax year:

First, the IRS has delayed certain tax returns and payments for people who reside or have a business in the disaster area. The following Are all extended until Feb 15th 2024. If you need to take money out of a retirement account, you can waive the usual 10% early withdrawal penalty on the first $22,000, […]

There has been a heavy increase in tax scams over the past couple of years. Some have been around a while, but identity thieves are always developing new ways to harvest your info. The IRS keeps a list of scams that target taxpayers at www.irs.gov/newsroom/tax-scams-consumer-alerts. Just this last Monday the IRS warned of a new […]

There are a few things to keep in mind this coming tax year: The American Rescue Plan authorized advance payments of the Child Tax Credit starting in July of 2021. If you received advances of the credit your tax refund may be lower this year. Also, if you received more than you should have, you […]

The IRS has opened its online portals for the advance payments of the child tax credit (see previous post). If you want to view your eligibility, view your advance payments, or opt out of the advance payments, you can go here. If you don’t need to file a tax return but want to sign up […]

The new credit is for 2021 ONLY. It will be a $3,600 credit for each child under age 6, and a $3,000 credit for children ages 6 to 17. Half of the credit will be paid monthly from July thru December, $300 in each month for children under age 6 and $250 for each child […]

The IRS has already started sending out its second round of stimulus payments for $600 per eligible person. The IRS must stop sending payments by January 15th, so you should see the money soon. If you don’t have direct deposit set up for this payment, set it up ASAP! Right now the website is down […]