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...

IRS “GET MY PAYMENT” Tool

The IRS Get My Payment information tool is now LIVE on the IRS website. Taxpayers can use the Get My Payment site to: Check on the status of their Economic Impact Payment.Confirm their payment type (direct deposit or mailed check).Add their direct deposit information if it has not already been provided to the IRS. Taxpayers will not be able to update their...

ECONOMIC STIMULUS BILL

Your phones are probably ringing with taxpayers wanting to know about their stimulus checks. The below article is not intended to address all potential scenarios but to hit on the stimulus check highlights regarding the questions we are being asked. What is it? In simple terms - The Stimulus check is a one-time...