Extension of Time to File Most taxpayers who requested an extension of time to file for their 2020 federal income tax return will have until Friday, October 15, 2021, to file. Although October 15 is the last day for most … Read More
Author Archives: Chamille Houston
TAS Tax Tip: IRS statement on Advance Child Tax Credit Payment updates
September Advance Child Tax Credit Payments The IRS issued a formal statement on September 24, which anyone missing their September payment should read. The IRS’s statement reads: During the week of September 13-17, the IRS successfully delivered a third monthly … Read More
TAS Tax Tip: Take certain corrective actions by October 4, to affect future Advance Child Tax Credit Payments
If you are receiving monthly advance payments of the Child Tax Credit, you can make certain changes in the Child Tax Credit Update Portal by 11:59 p.m. Eastern Time on October 4 to affect the next scheduled payment on October … Read More
TAS Tax Tip: Create an Online Account to View your Balances, Make Payments, Get Transcripts, and More.
The IRS offers an online account application for individual taxpayers. With online account access, you can view: The total amount you owe, including balance details by year; Your payment history and any scheduled or pending payments Key information from your … Read More
TAS Tax Tip: Additional help is now available for visually impaired and other taxpayers with disabilities
The Internal Revenue Service (IRS) Policy Statement 1-47, Reasonable Accommodations for People with Disabilities (see IRM 1.2.1.2.12), requires the IRS to take necessary actions to ensure taxpayers with disabilities have an equal opportunity to participate effectively in its programs, activities … Read More
TAS Tax Tip: Answers to your questions about premium assistance for COBRA benefits
Earlier this year, the IRS issued Notice 2021-31, Premium Assistance for COBRA Benefits, outlining the temporary premium assistance included in Section 9501 of the American Rescue Plan of 2021. This section provides for a temporary 100 percent reduction in the … Read More
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
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