How will the Advance Child Tax Credit Payments Impact Tax Season 2022?
Much like last year, there are some unusual items to keep in mind when filing your 2021 taxes this year. Primarily, the Advanced Child Tax Credit payments may present some challenges for both taxpayers and tax preparing professionals. The good news is that this time around, the IRS is planning to send special statements to […]
2021 Child Tax Credit: Changes to the Credits & Advance Child Tax Credit Payments
Starting July 15, 2021, the Internal Revenue Service made the first of six-monthly payments for 2021 to approximately 35 million American families. The payment amounts vary depending on a family’s income, the filing status of parents or guardians, as well as the number of eligible children. For example, a family with three qualifying children could […]