The IRS will have two online child tax credit portals open by July 1. That’s where you’ll change your status and more. The child tax credit payments are coming — the good news is 88% of American families will qualify for at least some money. However, to make sure you get the right amount (and to make sure you’re not overpaid),…
The IRS enables you to check when your 2021 Economic Impact Payment is available. The tool updates once each day, usually overnight. The IRS asks that you do not call them and encourage you to use this feature to check the status of your payment. Previous payment information is no longer available in the feature…
The Treasury Department and Internal Revenue Service announced today that the federal income tax filing due date for individuals for the 2020 tax year will be automatically extended from April 15, 2021, to May 17, 2021. The IRS will be providing formal guidance in the coming days. “This continues to be a tough time for…
Earlier in February 2021, the IRS issued notices to approximately 260,000 taxpayers stating they haven’t filed their 2019 federal tax return. These notices, referred to as CP59 notices, are issued yearly to identify taxpayers who have failed to file a tax return that was due the prior calendar year (Tax Year 2019). Due to pandemic-related shutdowns,…
Millions of Americans have already received refund payments after completing their tax filing, but there are concerns that tax return processing could soon face delays. This year’s tax season is expected to be a bumper year for tax refunds and rebates with millions of Americans expecting to get money back after their filing. Those who suffered a…
If 2020’s economic downturn put you in the position of needing to apply for unemployment benefits, you may have been under the impression that those benefits were not subject to state or federal taxes. Unfortunately, that’s not the case, and the same is true for independent contractors and the self-employed individuals who applied for and…
The Internal Revenue Service has issued an urgent warning to tax professionals over a new scam in which cyber-criminals impersonate the IRS over email in an attempt to steal Electronic Filing Identification Numbers (EFINs). Carrying the subject line “Verifying your EFIN before e-filing,” the scam email purports to be from “IRS Tax E-Filing.” In the…
The IRS will begin accepting tax returns on Feb. 12, 2021. Here’s a breakdown of what you should know before you file. Tax filing season will start a bit later this year and look a bit different too. That’s because the pandemic that defined 2020 has seeped into tax time too. If you worked from…
Filed your taxes and expecting a refund? Here’s how to check the status and how long you may have to wait. So, you’ve been proactive and turned in your tax return already or are planning to do so shortly. How do you check the status of your refund? The IRS has a “Where’s My Refund” page on its website…
There are pros and cons to either filing your taxes now or holding off a few more weeks in terms of the proposal for $1,400 stimulus payments. As Democrats push forward with crafting the next massive coronavirus economic relief package, key details surrounding the third stimulus check are coming into focus. Taxes are going to…
