Advance Child Tax Credit: Should You Opt Out?

It may be a good idea if you usually owe the IRS money or think you will owe at the end of the year. The new advance child tax credit payments start July 15, 2021. Half of the total credit amount will be issued in advance monthly payments, and the remaining half will be paid […]

IRS Experiencing Processing Delays

IMPORTANT INFORMATION CONCERNING YOUR 2020 TAX REFUND The Taxpayer Advocate Service (TAS) is aware that taxpayers are experiencing more refund delays this year than usual. Typically, the IRS processes electronic returns and pays refunds within 21 days of receipt. However, the high volume of 2020 tax returns being filed daily, backlog of unprocessed 2019 paper […]

IRS Sending Interest to Individual Taxpayers

Last week, the Treasury Department announced that the Internal Revenue Service will send interest payments to individual taxpayers who filed their 2019 federal income tax returns by the July 15 deadline and are due a refund. The extension of the 2019 filing deadline to July 15, 2020, due to COVID-19, was considered a disaster-related postponement.  […]

IRS Tax Scams & Consumer Alerts

IMPORTANT – PLEASE READ – IMPORTANT – PLEASE READ – IMPORTANT The IRS doesn’t initiate contact with taxpayers by email, text messages or social media channels to request personal or financial information.  In addition, IRS does not threaten taxpayers with lawsuits, imprisonment or other enforcement action.  Being able to recognize these tell-tale signs of a phishing or tax […]

IRS Warning: Avoid scams related to COVID-19 economic payments

The IRS urges taxpayers to be on the lookout for scam artists trying to use the economic impact payments as cover for schemes to steal personal information and money. Remember, the IRS will not call , text you, email you or contact you on social media  asking for personal or bank account information – even […]