Diversity Taxes

04/04/2022

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Tax refund delayed? There's nothing you can do but recognize you're in delayed processing purgatory.

02/08/2022

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The administration is encouraging people to send their tax forms to claim the remaining credits, including those whose incomes are so low that they might not have traditionally filed.

01/26/2022

📬 *CHILD TAX CREDIT*

A few things to know:

The irs is sending letters (6419) to all of those who received the advanced child tax credit.

Joint filers will both receive one.

We MUST have that letter or copies of bank statements showing each deposit. You can also follow this link to set up your online account and access your info that way.

Again, we have to see documentation to verify deposit or check amounts to prepare your return. If the information is incorrect and does not match IRS info, your refunds could be held at minimum 6mos-1 year in processing.

Check if you're enrolled, manage your payment information and unenroll from advance payments of the 2021 Child Tax Credit.

01/26/2022

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01/26/2022

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The issue could create tax refund delays for parents if they rely on faulty information to complete their tax returns.

01/20/2022

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Are you eager to claim your tax refund? While the tax filing season begins January 24th, the IRS urges you to file electronically only when you have all the information needed. Errors or incomplete tax returns can delay your refund. See more: https://go.usa.gov/xt4zD

01/20/2022

📬 The IRS will start accepting returns January 24, 2022. Here is a chart of when you can expect your tax refund depending on when the return was accepted (based on e-Filing). The chart below shows estimated dates based on past year trends.

Refunds that include Earned Income Credit and Additional Child Tax Credit CANNOT be released by law until AFTER February 15, 2022, regardless of how early the tax return was filed.

💡Please Remember:

The IRS will be sending out stimulus check letters 6475 and the child tax credit letters 6419 on January 19, 2022.

Please DO NOT THROW THESE LETTERS AWAY‼️

More Importantly please wait until AFTER you receive your letters to file your tax return to AVOID possibly going under review, AVOID delays to your refund, AVOID any discrepancies, and/or AVOID having to file an amendment‼️

the dates shown below may vary🗓

01/19/2022

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The IRS already faces a huge backlog of unprocessed returns, creating challenges as the new tax season begins.

01/08/2022

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sending letters to recipients of advance payments and third . Using the information in these letters when preparing your tax return can reduce errors, avoid refund delays. https://go.usa.gov/xt3mm

01/05/2022

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April 15 typically marks the IRS tax day, but like last year, the tax filing deadline won’t fall on the date.

01/05/2022

🚨 Child Tax Credit Reminders:

Other facts about the Advance Child Tax Credit:

Under the American Rescue Plan Act of 2021 one half of the total child tax credit is being distributed to eligible taxpayers each month from July – December. The amount of each monthly payment will be $250 for each eligible child age 6 -17 and $300 for each child under age 6.

-They are not subject to offset.

-They are subject to garnishment

-A letter informing the taxpayer how much advance child tax credit they received in 2021 will be sent to the taxpayer by January 31, 2022.

-IRS has a page dedicated the Advance Child Tax Credit Payments

-IRS has a dedicated page that is devoted to FAQs about the --*---

Advance Child Tax Credit. This page is updated on ongoing basis as new information becomes available-

Diversity Taxes

12/31/2021

🚨 In order to file your taxes this year you must provide proof of stimulus payments received and monthly Child tax payments received…To help taxpayers reconcile and receive all of the Child Tax Credits to which they are entitled, the IRS will send Letter 6419, 2021 advance CTC, starting late December 2021 and continuing into January. The letter will include the total amount of advance Child Tax Credit payments taxpayers received in 2021 and the number of qualifying children used to calculate the advance payments.

To speed up your process you can provide:
📝bank statements
📝setup an IRS account with your credit card or 📝setup an IDme account.
We recommend doing this ASAP‼️‼️

🗣🗣If you give your preparer incorrect amounts it WILL hold up your

Letters 6416 and 6416-A from the IRS are related to the expanded and advance child tax credit for tax year 2021.