IRS Economic Impact Payments and the Recovery Rebate Credit

The 2020 Recovery Rebate Credit was paid in advance to most people in the first two rounds of Economic Impact Payments. If you're like most people who were eligible, you've already received the full amount. If you received the full amount for the first two Economic Impact Payments, do not include any information about your payments [...]

Tax Deductions Families Can Claim for Dependents 2020, 2021

Raising a family comes with a multitude of costs, costs which require an adequate and stable income. As your income goes up, so too do your taxes. But taking advantage of some tax deductions can help. Here are a few scenarios to consider: Child Tax Credit - If you are a parent or legal guardian of [...]

Reasons to File a 2019 Tax Return

The following article was published by the IRS. While many people are required to file a tax return, it's a good idea for everyone to determine if they should file. Some people with low income are not required to file, but will need to do so if they can get a tax refund. Here are five [...]

Child Tax Credit and Credit for Other Dependents

This video was published by the IRS. Many parents claim the Child Tax Credit to help with the cost of raising children. The credit can be $2000 per qualifying child. This credit applies if: The child is younger than 17 at the end of the tax year. You claim the child as a dependent. The child [...]

Here’s How the Credit for Other Dependents Can Benefit You

The following article was published by the IRS. Taxpayers with dependents may qualify to claim a few different tax credits. One of these is the child tax credit. The child tax credit benefits people whose dependent meets a series of tests. If the dependent doesn't meet those qualifications, the taxpayer may be able to claim the [...]

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