Here are the top five things you can do now to make filing your taxes go smoothly: Set up an online account at IRS.gov/account. It will allow you to make payments, verify the amounts of your economic impact payments, and get information about your Advance Child Tax Credit payments. Gather and organize your tax records. This [...]
This article was published by the IRS. This is the second of two tax tips providing an overview of ways the American Rescue Plan may affect some people's 2021 taxes. Part 1 is available here. Changes expanding EITC for 2021 and beyond New law changes expand the EITC for 2021 and future years. These changes include: [...]
Are you wondering if you're eligible for advance Child Tax Credit (ACTC) Payments? You qualify for ACTC payments if you have a qualifying child. You don't need to have income, and you can qualify even if you don't normally file a tax return. Also, you - or your spouse, if married and filing a joint return [...]
Wondering when you'll receive advance Child Tax Credit (ACTC) payments from the IRS? If you're eligible to receive ACTC payments, you can generally expect your monthly installments to be deposited or mailed on the 15th of each month through December 2021. If you prefer not to receive ACTC payments because you'd rather claim the full credit [...]
It’s important to know whether the advance Child Tax Credit (ACTC) payments will affect any government benefits you may be receiving. The short answer is “no.” That’s because ACTC payments don’t count as income when a program is determining if you or anyone else is eligible for benefits or assistance. They also can’t use the payments [...]
