Absolute Bookkeeping & Payroll Services

03/03/2023

Tax Season is going pretty well this year, thanks to my helper Amanda.

01/20/2023

FYI ** Efiling opens up on the 23rd**

01/13/2023

And it begins! (2) Tax returns done (can't e-file yet) But they are done ready to go

06/21/2022

Design Tip Tuesday!

Find creative ways to incorporate geometric shapes.

Details like shapes, lines, and patterns will draw attention and create visual interest throughout a space.

02/05/2022

a little laugh for the day! Thank you Jean for sharing with me

01/24/2022

FYI
What this letter is about

Letter 6419 includes:

Total amount of 2021 advance Child Tax Credit (CTC) payments
Number of qualifying children used to calculate advance payments, and repayment protection when filing your 2021 federal tax return
See Topic H in the FAQs for advance Child Tax Credit Payments information

To help taxpayers reconcile and receive 2021 CTC, the IRS is sending Letter 6419, Advance Child Tax Credit Reconciliation from late December 2021 through January 2022. Taxpayers should keep this, and any other IRS letters about advance CTC payments, with their tax records.

Families who received advance payments must:

File a 2021 tax return
Compare the advance payments received in 2021 with the CTC amount they can claim for 2021

This letter contains helpful information for preparing tax returns. Taxpayers who received advance payments can also check amounts using the CTC Update Portal and Online Account on IRS.gov.

Eligible families who didn't receive advance child tax credit payments can claim the full amount of the child tax credit on their 2021 federal tax return. This includes families who don't normally need to file a tax return.

01/08/2022

**FYI** IRS OPENING DAY 2022- (beware refunds might be delayed for some with the earned income tax credits)

IRS will start accepting income tax returns on between Jan. 24-Jan. 31, 2022. * = IRS may delay start of tax season by a week or so. ** = Returns with EITC or CTC may have refunds delayed until March to verify credits.

01/06/2022

**FYI**

IR-2021-243, December 7, 2021 — The Internal Revenue Service today encouraged taxpayers to take important actions this month to help them file their federal tax returns in 2022, including special steps related to Economic Impact Payments and advance Child Tax Credit payments.

07/20/2021

When can I amend my unemployment tax return?
Unless you're entitled to a new credit or additional deductions as described in Topic E, there's no need to file an amended return (Form 1040-X) to report the amount of unemployment compensation to exclude. The IRS will perform the corrections starting in late May and continue throughout the summer and into the fall

06/27/2021

**FYI** about Advance Child Tax Credit payments

Important changes to the Child Tax Credit will help many families get advance payments of the credit starting this summer. The IRS will pay half the total credit amount in advance monthly payments beginning July 15. You will claim the other half when you file your 2021 income tax return. These changes apply to tax year 2021 only.

To qualify for advance Child Tax Credit payments, you — and your spouse, if you filed a joint return — must have:

Filed a 2019 or 2020 tax return and claimed the Child Tax Credit on the return; or
Given us your information in 2020 to receive the Economic Impact Payment using the Non-Filers: Enter Payment Info Here tool; and
A main home in the United States for more than half the year (the 50 states and the District of Columbia) or file a joint return with a spouse who has a main home in the United States for more than half the year; and
A qualifying child who is under age 18 at the end of 2021 and who has a valid Social Security number; and
Made less than certain income limits.

We’ll use information you provided earlier to determine if you qualify and automatically enroll you for advance payments. You do not need to take any additional action to get advance payments.


Unenroll From Advance Payments

Unenroll if you don’t want to get advance payments or check if you’re enrolled to receive payments.

Non-Filers: Submit Your Information

If you aren’t required to file a tax return and haven’t given us your information already, you will need to give us some basic information for the Child Tax Credit.

Additional Information

Questions and Answers About the Advance Child Tax Credit Payments
2021 Child Tax Credit and Advance Child Tax Credit Payments: Resources and Guidance
Check if you may be eligible for the advance child tax credit payments