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…
Two items in the COVID relief package affect how much money the government will send parents to cover their children in 2021. Inside the COVID relief package that could be voted on by the full House as early as next week, there are two different dollar amounts that involve children and their parents that people are talking…
Are you wondering if there’s a hard and fast rule about what income is taxable and what income is not taxable? The quick answer is that all income is taxable unless the law specifically excludes it. But as you might have guessed, there’s more to it than that. Taxable income includes any money you receive,…
The first step of tax preparation is gathering records As taxpayers get ready to file their tax returns, they should start by gathering their records. Taxpayers should gather all year-end income documents to help ensure they file a complete and accurate tax return and avoid refund delays. Taxpayers should have all necessary records handy, such…
If you didn’t receive your Economic Impact Payments (EIPs) and a 2018 or 2019 joint return was filed in your name without your consent, you may be eligible to claim the Recovery Rebate Credit (RRC) on your 2020 tax return. Since the issuance of the first round of EIP, our office has been working with…
“We have received your tax return and it is being processed”refund status message is a good sign and indicates the tax return is being processed and your tax return is still on track to a refund date. When you see the WMR refund status “We have received your tax return and it is being processed”…
The Protecting Americans from Tax Hikes (PATH) Act was created in order to protect taxpayers and their families against fraud and permanently extend many expiring tax laws. The law, which was enacted December 18, 2015, first impacted tax returns filed in 2017 and will continue to impact returns until the law is overturned or changed.…
Nearly every taxpayer with dependent children could be impacted by the PATH Act at some point. In addition to other tax-related provisions, the PATH act affects two extremely common tax credits: the Earned Income Tax Credit and the Additional Child Tax Credit. Here’s what every taxpayer should know about the PATH Act: What is the…
Opening Day for the IRS is Today February 12, 2021. The Internal Revenue Service has set the opening day for the 2021 tax filing season for Friday, Feb. 12, 2021. That’s the day the IRS will begin accepting and processing 2020 tax year returns. The tax filing deadline this year is Thursday, April 15, 2021…
