How Advance Child Tax Credit Payments Might Impact your Tax Refund in 2022

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Child tax credits are typically claimed when taxpayers file their income tax returns. However, as part of the American Rescue Plan package, millions of parents received monthly advances of their child tax credits from July through December of 2021. In addition, the total child tax credit amount and eligibility were expanded. The IRS calculated the … Read more

IRS Issues Refunds for Taxes Paid on Unemployment Compensation

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The IRS recently issued 430,000 refunds totaling more than $510 million to taxpayers who paid taxes on unemployment compensation excluded from income for tax year 2020. Is unemployment income excluded from tax? Per the American Rescue Plan, up to $10,200 of unemployment compensation paid in 2020 is excluded from income, meaning that you do not … Read more

How to Verify your Identity with IRS and Get your Refund in 3 Steps

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You may have received a letter from the IRS asking you to verify your identity after filing a tax return. These letters are sent by the IRS to prevent identity thieves from getting your refund. When do you need to verify your identity? The most common situations when you are required to verify your identity … Read more

Where’s my IRS Refund?!

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It’s that time of the year. We’ve just finished sending in our tax returns and doing our happy refund dances. We sit patiently for that crisp, green refund check – thinking of all the things we can do with it. A week becomes two, and then a month. …Still no check in the mail. Where … Read more