The IRS began issuing advance payments of the Child Tax Credit (CTC) in mid-July. Similar to certain other credits with an advance payment option, taxpayers who receive these advance payments will have to reconcile the total amount received on their 2021 individual income tax return. In January 2022, the IRS is planning to send Letter 6419 to all advance CTC…
The IRS lets you access most tax tools with one account ID.me uses the latest in identity verification technology to authenticate your identity quickly and easily. They specialize in digital identity protection and help us make sure you’re you—and not someone pretending to be you—before we give you access to your information. If you have an…
The Internal Revenue Service has sent out more than 11 million letters to taxpayers showing them they owe more or are not getting back as much in a refund as they thought. That’s five times more than in 2019, according to the IRS’ tax advocacy office, an independent arm of the agency created to help…
Stimulus payments are being sent out by the federal government this fall. The next payment is scheduled to be delivered in about three weeks. The payments are part of the American Rescue Plan that President Joe Biden signed into law in March. In the middle of October, most American families will receive another payment as part of the expanded…
After parents were issued their child tax credit check on Sept. 15, they’ll have three more monthly payments this year and one next year. Due to changes made in the American Rescue Plan to help families, households receive 50% of the total credit in six advance installments through 2021, and the rest with a tax refund in…
Here’s a frustrating scenario that is affecting way too many Americans this tax season: You’ve been waiting months and months for a refund, but instead of getting a check from the Internal Revenue Service (IRS), you get a letter saying “you need to send supporting documentation.” Even worse, the IRS says it is holding your refund until the matter…
With less than a week to go before the official end of summer, many patient Americans are still wondering if they’ll ever receive one of those coveted unemployment-related tax refunds that the Internal Revenue Service (IRS) first announced six months ago. The refunds are the result of changes to the tax law authorized by the…
Remember what it felt like when your teacher marked something as “incorrect” on your homework, but then the correction itself turned out to be incorrect? Well, millions of American taxpayers may feel like they’re in that very situation right now. The Internal Revenue Service (IRS) has issued some 5 million “math error notices” that neglected…
For months the IRS has been working to clear a massive backlog of unprocessed tax returns. Many Americans are owed hundreds – if not thousands of dollars – as part of unemployment refunds. In short, these tax filers overpaid on unemployment benefits when filing taxes in the spring. Amendments were made to tax law as part…
IRS Encourages Modernization Of Electronic Filings: 30 Million Taxpayer Paper Filed Tax Returns Destroyed According to the Inspector General’s audit, the IRS destroyed 30 million paper documents while millions of taxpayers are waiting for tax refunds. The IRS has taken a number of actions and developed initiatives in an effort to increase e-filing. Furthermore, legislative requirements have resulted…
