Child advance payments now monthly?

Published: 7/15/2021 11:59:45 AM Child advance payments are either 3600 a year if under 6 or 3000 under 18. The government child credit previsouly was 2000 and paid with filing of tax return. This often got the filer a "big" refund. The governemnt, unless you opt out, wants to pay you monthly. So 3000 would translate into 250 a month for the child being deposited into you account. The problem might be: Filers are used to count on and budget for a refund might not get it. You might not qualify and have to pay it back. Divorce decrees where the child credit

» Read more

Where is my refund and is what is happening with IRS service

Published: 7/15/2021 11:59:28 AM

As of July 2021 there are about 35 million returns yet to be processed. They are getting around 7 times normally call volume. When and if refunds can be issue with no human interaction they can be quick. When a human needs to be involved it can take months. You can check the status of a refund at: I sincerely believe the IRS is trying to do a good job and the vast majority of there people are good workers. They just have to much work for the staff involved. So if no refund, check to see that is

» Read more

New W4 for 2020

Published: 1/14/2020 5:48:25 PM

Welcome to my first Blog about tax and accounting issues. New employees hired after January 1 2020 will have a W4 very different from previous years. A W4 is a form used by the employer to determine the correct withholding. The form goes into depth regarding topics like do you have a second job? Do you have other unearned income like interest and dividends? Did you take more than a standard deduction? And some other questions. May people may find this complex so I encourage you to reach out if needed to your tax practitioner. What is the purpose of

» Read more