Ready for your 2021 tax refund? Mark your calendars because January 24 is the date the Internal Revenue Service will start accepting and processing 2021 income tax returns. The 2022 tax season will start from Monday, January 24, and end on Monday, April 18, the Treasury Department and Internal Revenue...
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2022 TAX LAW UPDATE & COMPARISON
2020 YEAR/ 20201 YEAR TAX COMPARISON DOWNLOAD PDF HERE We strongly advise everyone to become well acquainted with these changes.
IRS TAX PAYER ID VERIFY TOOLS!
On November 17th IRS unveiled a new online identity verification process for accessing self-help tools. In our opinion, the IRS ID verify process was way overdue for an upgrade. Successfully verifying their old platform was an act of GOD. Rumor is... this process is much easier... probably because they outsourced...
CHILD TAX CREDIT/ ADVANCE CHILD TAX CREDIT
Here is a short update on what changed with the child tax credit & advance child tax credit. One year expansion for 2021 tax year only, per the American Rescue Plan Act of 2021) For tax year 2021, the Child Tax Credit is increased from $2,000 per qualifying child to:$3,600...
CHILD & DEPENDENT CARE CREDIT FAQS
For 2021, the American Rescue Plan Act made child, and Dependent care credit made substantially more generous. Now taxpayers can get up to $4000 for one qualifying person and $8000 for two or more qualifying persons. Thus, child and dependent care credit can help you pay for the care of...