Many beneficiaries of stimulus checks may immediately put the funds to good use. If they don’t need help, most people can find something to do with an extra $1,400. So, why would anyone return their stimulus payment to the IRS? ...
The earned income tax credit (EITC) is a refundable tax credit that assists low-income Americans by reducing the amount of tax owed on a dollar-for-dollar basis. If taxpayers’ tax credit surpasses their tax liability for the year, they may be ...
Although the April 18 tax deadline is still a month away, many Americans have already gotten their tax refund from the IRS, with over 38 million individuals receiving refunds averaging $3,401. If you submit your tax return electronically and choose ...
Instead of going on a spending binge, tax refunds help me keep the momentum going toward my financial goals. A tax refund can be a financial blessing depending on where you are in your financial journey. You can pay down ...
IRS Focuses on Technology Modernization Efforts, Relies on Industry Partnerships to Step Up Services
Technology modernization efforts are a top priority for the Internal Revenue Service (IRS), and the agency is depending on business collaborations to help bring systems and solutions to the next level for the benefit of the public over the next ...
The “Non-Filers: Enter Payment Here” tool for claiming stimulus money, including the advance, increased Child Tax Credit for 2021, has been discontinued by the Internal Revenue Service. Even if you don’t regularly file tax returns, you may be eligible to ...
The 2022 tax season brings complex tax changes, such as stimulus payments, child tax credits, unemployment insurance claims, and other pandemic-related factors, as well as a warning from the IRS about expected processing delays. To get your refund faster, the ...
Bonus stimulus checks of up to $1,500 are due to be sent to workers in one state, paid for by stimulus monies from President Biden’s $1.9 trillion American Rescue Plan legislation. The state is Alabama, and the workers are state child ...
If you received more money from the Child Tax Credit last year than you believe you were entitled to, you might be concerned that you will now owe the IRS money. However, this may not be the case because some ...
During tax season, we are bombarded with financial terms such as credits, offsets, deductions, qualifying dependents, and so on. It’s all too much. So before you dive into the deep end of the tax pool, consider the fundamentals, such as ...