by raza rashid | Mar 3, 2022 | Blog
Taxpayers who are paying someone to take care of their children or another member of household while they work, may qualify for child and dependent care credit regardless of their income.For tax year 2021, the maximum eligible expense for this credit is $8,000 for one...
by raza rashid | Feb 25, 2022 | Blog
The IRS sent half of the Child Tax Credit to eligible families in monthly installments starting July 15, 2021. We looked into the details so you know what to expect and how it might affect your tax return. If you have kids and you file taxes, the Internal...
by raza rashid | Feb 20, 2022 | Blog
If you received advance Child Tax Credit (CTC) monthly payments last year, you should be getting Letter 6419 from the IRS. This letter details the total advance payments you received last year and lets you know how much of the credit you can still expect to claim when...
by raza rashid | Feb 19, 2022 | Blog
Raising kids is expensive. Thankfully, becoming a parent comes with some valuable tax breaks — most notably, the Child Tax Credit (CTC). What is the Child Tax Credit? In 2021, many families received advance Child Tax Credit payments monthly from July through December....
by raza rashid | Feb 17, 2022 | Blog
Emergency financial aid grants made by a federal agency, state, Indian tribe, higher education institution or scholarship-granting organization (including a tribal organization) to a student because of an event related to the COVID-19 pandemic are not included in the...
by raza rashid | Feb 14, 2022 | Blog, Uncategorized
Last month the IRS began issuing Letter 6475 to those who received the third round of Economic Impact Payments. For those who received less hen the full amount, the Economic Impact letter will explain how to claim the payment through the Recovery Rebate Credit on tax...
