Part I of this series addressed ten things that individuals should know about the Advance Child Tax Credit (AdvCTC), including qualification, reasons someone might want to unenroll from receiving monthly payments, and first-time parents. Part II focused on issues … Read More
Monthly Archives: August 2021
TAS Tax Tip: Optional Tool Available to Track Your Advance Child Tax Credit Payments
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 … Read More
NTA Blog: Advance Child Tax Credit: What You Should Know: Part II
NTA Blog: Advance Child Tax Credit (CTC): What You Should Know: Part II Advanced CTC Part I of this series addressed ten things that individuals should know about the Advance Child Tax Credit (AdvCTC), including qualification, reasons someone might … Read More
TAS Tax Tip: Advance Child Tax Credit – Update your address by August 30 for September payments
The IRS began issuing advance payments of the Child Tax Credit 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 … Read More
TAS Tax Tip: 2021 Advance Child Tax Credit information for U.S. Territory residents
The Child Tax Credit (CTC) for 2021 is fully refundable if you (or your spouse, if filing a joint return) have a principal place of abode in the United States for more than half of 2021. Fully refundable means that … Read More
NTA Blog: Advance Child Tax Credit: What You Should Know: Part I
August 25, 2021 NTA Blog: Advance Child Tax Credit: What You Should Know: Part I The $1.9 trillion American Rescue Plan Act of 2021 (ARPA) increases the Child Tax Credit (CTC) amount for 2021 from $2,000 up to $3,000; … Read More
TAS Tax Tip: Got a Direct Deposit from the IRS, But Not Sure What it is For?
Did you get a payment by direct deposit into your account, but not sure what it is for? No problem, here’s some information that will help you figure that out. It could be: A refund from a filed tax return, … Read More
TAS Tax Tip: Returning a Refund Economic Impact Payment or Advance Payment of the Child Tax Credit
Returning a refund. If for some reason, you believe you are not due a refund that was sent, you can void or repay those amounts. Before you return any IRS refund or payment, double check that isn’t due to you, … Read More
TAS Tax Tip: Taxpayer Advocate Service opens new office in Trenton, New Jersey
The post TAS Tax Tip: Taxpayer Advocate Service opens new office in Trenton, New Jersey appeared first on Taxpayer Advocate Service. Source: taxpayeradvocate.irs.gov
TAS Tax Tip: More 2021 unemployment compensation exclusion adjustments, and refunds in some cases, coming…
The post TAS Tax Tip: More 2021 unemployment compensation exclusion adjustments, and refunds in some cases, coming… appeared first on Taxpayer Advocate Service. Source: taxpayeradvocate.irs.gov