The IRS is now making monthly child tax credit payments to eligible families. Depending on the age of your child, those payments can be as much as $300-per-kid each month from July to December. That’s an… Do you have to pay back the Child Tax Credit Payments?
IRS clarified how individuals who are not otherwise required to file 2020 federal income tax returns can claim advance child tax credit (CTC) payments as well as stimulus payments (i.e., third-round economic impact payments, 2020… How nonfilers can claim advance child tax credit payments
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… Child Tax Credit: IRS to open portals on July 1; checks will begin July 15
Whether you have just one on the way or five and counting, kids are expensive. That’s why you should take advantage of tax cuts whenever possible. In addition to claiming them as dependents, you may… What is the Additional Child Tax Credit?
What is the Recovery Rebate Credit? You can claim your missing stimulus payment with the Recovery Rebate Credit. The IRS introduced the Recovery Rebate Credit for eligible taxpayers who did not receive the first or… Recovery Rebate Credit
Health insurance can be pricey. Luckily, you can get a refundable tax credit just for purchasing health insurance through the Marketplace. Keep reading to find out how you qualify. What is the Premium Tax Credit… What is the Premium Tax Credit
Taxpayers who claim the Earned Income Tax Credit or the Additional Child Tax Credit may experience a refund hold. According to the Protecting Americans from Tax Hikes (PATH) Act, the IRS cannot issue these refunds… Refund Timing for Earned Income Tax Credit and Additional Child Tax Credit Filers
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… Who should file a Tax Return?
If you are a divorced or separated parent with children, a commonly encountered but often misunderstood issue is who claims the child or children for tax purposes. This is sometimes a hotly disputed issue between… Who Claims the Kids after Separation: You or Your Ex?
With the tax filing season quickly approaching, the Internal Revenue Service recommends taxpayers take time now to determine if they are eligible for important tax credits. Earned Income Tax Credit The Earned Income Tax Credit (EITC) is… Important things to know about Tax Credits