It’s surprising but true. We explain how it can happen on our Tax Tips & News page.
There are many milestones and life changes that can affect your tax returns.
For instance, if you have a dependent child turning 17 this year, the $2,000 child
tax credit you have received previously will end.
It’s always a good idea to review your tax situation well in advance of the end
of the year to determine if there are any changes that may affect your return.
Find out more about this and other IRS scams on our Tax Tips & News page.
tax benefit by having a dependent child. However, when your child is no
longer your dependent your filing status changes to Single. Unfortunately,
that translates to a smaller Standard Deduction and higher income tax rates.
Let us know if you’d like to review your personal situation.
Excerpts from Our Tax Tips & News Pages
Remember the American Rescue Plan Act of 2021? That was the third economic stimulus package that was passed in the middle of tax season last year. Now, a year later, taxpayers who got third-round Economic Impact Payments (EIP) were supposed to have received IRS Letter...read more
The deadline for filing your Federal Taxes this year is Monday, April 18, 2022. This is because even though April 15th is a Friday, it is also Emancipation Day, which is celebrated in Washington, DC, causing all businesses and government offices to close.Residents of...read more
We continue to encourage everyone to use the client portal for the safest transfer of documents, but are happy to be able to provide alternatives to accommodate what works best for you! Sending Us Hard Copies of Your Documents? Priority Mail is best! The U.S. Post...read more
The passage of the most recent stimulus package —The American Rescue Plan— is good news for most taxpayers. However, particularly for those who received unemployment benefits in the last year, implentation of the bill after the start of tax season is creating some...read more
As we head into another pandemic tax season, all indications are that the IRS still hasn't caught up from last year, and that ongoing staffing issues and changes resulting from stimulus payments are going to make this year even more challenging. You can read more...read more
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