The Advance Child Tax Credit Payments helped millions of American families navigate the difficulties of the past year. If you received these payments, here’s what you need to know about how to reconcile them on your 2021 tax return. Advance Child Tax Credit Payments and Your 2021 Tax Return With tax season already underway, it’s…
The Internal Revenue Service (IRS) is already accepting and processing 2021 tax returns. As millions of Americans prepare to file and pay their taxes before the April 18 deadline, here’s what you need to keep in mind. Tax Season 2022 Has Officially Begun! The IRS began accepting 2021 tax returns on January 24, marking the…
People receiving Advance Child Tax Credit Payments must update their information if their income has substantially changed in 2021. Keep reading to learn more about these payments and discover how to update your information. What Are the Advance Child Tax Credit Payments? The Advance Child Tax Credit Payments are a measure designed by the U.S.…
When it comes to their tax returns, everyone tries to be as precise as possible. However, mistakes happen, as we all know. In those cases, can you amend a tax return? Keep reading to learn more. Can You Amend a Tax Return? The short answer is yes, you can amend a tax return. However, even…
Last Thursday, the IRS and the Treasury Department began issuing Child Tax Credit Payments to American families. Keep reading to learn more about this relief measure and discover who qualifies, how much you could get, plus some useful online tools. Child Tax Credit: What You Need to Know In our previous post, we covered the…
If you are among those left wondering “Do I qualify for the Child Tax Credit?”, we have good news: a new online tool allows you to figure out whether you qualify or not without even leaving your home. What Is the Child Tax Credit? The child tax credit is part American Rescue Plan, a set…
In the minds of a lot of people, tax filing is complicated. And while filing your taxes requires a certain degree of attention to detail, things can be a lot easier when you keep accurate tax records. Keep reading to discover exactly how maintaining comprehensive records makes taxes easier–and how it can even result in…
Marriage involves a lot of planning: organize a party, find a new house, plan your honeymoon… and update your tax information. If you are getting married soon, here are some tax tips you should keep in mind. Name Change If your name changes after getting married, it’s important to notify this change to the Social…
Tax Day, which this year was on May 17, is already behind us. This means that if you forgot to file and pay your taxes, you have to take action right now. Here’s what you need to know. What to Do If you Couldn’t File Your Taxes by May 17 Here there are two basic…
The deadline to file your taxes is almost here. If you are among those who can’t file their tax return by May 17, don’t worry. You can request an extension file that will give you more time to prepare your return. Keep reading to learn more about this useful alternative. What Is an Extension to…