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The Stimulus Payment

IRS Notice 1444 – Keep it If you received a Stimulus payment in 2020 you should have received a Notice 1444 from the White House. It looks like a letter and shows how much you received. Hold onto this notice and provide it to us when we are preparing your tax return for 2020. You […]

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Cares Act

Following are some provisions in the Cares Act: Changes related to distributions from retirement accounts The tax can be paid ratably over a 3 year period instead of all in the year of distribution The 10% early withdrawal penalty is waived for distributions up to $100,000 for coronavirus related purposes during 2020 The purposes include […]

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Child Tax Credit

Taxpayers may be able to claim the child tax credit if they have a qualifying child under the age of 17. Part of this credit can be refundable, so it may give a taxpayer a refund even if they don’t owe any tax. The taxpayer’s qualifying child must have a Social Security number issued by […]

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Benefits to Direct Deposit Income Tax Refunds

Are you expecting a income tax refund. There are benefits to choosing direct deposit for your refund as opposed to a refund by check. Here are 10 quick facts about direct deposit. It’s the best and fastest way for taxpayers to get their tax refund. It’s free. It’s secure. Combining direct deposit with IRS e-file […]

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