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What is the 2021 Tax Year Recovery Rebate Credit?

The Recovery Rebate Credit in your 2021 Tax Return is how you will reconcile the third stimlus payment or the third Economic Impact Payment as the IRS calls it. The third stimulus payment is not taxable, but it is included in the 2021 tax return to make sure taxpayers didn’t miss the payment either in …

2021 Tax Return: Changes to EITC.

There were several changes in 2021 for the Earned Income Tax Credit that can help some taxpayers, particularly low income individuals and couples who don’t claim children. You can read about these EITC changes here.

What Documents are Needed to File my Tax Return?

Experienced taxpayers usually know what documents they need to file their taxes. But sometimes tax laws change and it is a good idea if you want to finish your taxes at one sitting that you have them all when you start your tax return preparation. For tax year 2021 taxpayers will receive two letters that …

New Year’s Tax Resolutions

Happy New Year! Soon Americans will be filing their 2021 tax returns. Here are some important dates for this year.  Jan. 31 – When the IRS will start processing tax returns filed in 2022 Feb. 15 – When the IRS will start processing tax returns with Earned Income Tax Credit and additional Child Tax Credit …