Stallings Tax Service

01/07/2022

***FYI*** If anyone is interested in receiving our 2021 Tax Check List for this tax season just inbox me your email address and I will send it right over to you.

01/02/2022

Very,very interesting!!! Who would think to report or claim any of these. Well they find ways to get their money always.

Don’t forget to report to the IRS any income you brought in from drug deals, bribes, stolen goods, prostitution or other illegal activity.

01/02/2022

Happy New Year!! It's almost that time, let the tax season of 2021 begin.

12/31/2021

***Tax season 2022: 3 changes you need to know about before filing your taxes

It's almost time to file your federal tax return and there are a handful of changes you need to know about, including steps you need to take regarding child tax credit payments.

The deadline to file your 2021 taxes is April 18, 2022, but the Internal Revenue Service encourages people to file early to avoid processing delays.

Child tax credit payments

Families who received advance payments this year will need to keep an eye out for Letter 6419 from the IRS. It's already being sent out, according to the IRS.

The letter includes the total amount of advance child tax credit payments taxpayers received in 2021.

The IRS says eligible families who didn't get monthly advance payments in 2021 can still get a lump-sum payment by claiming the child tax credit when they file a 2021 federal income tax return next year. This includes families who don't normally need to file a return.

Stimulus payments and Recovery Rebate Credit

If you didn't qualify for the third economic impact payment - commonly referred to as a "stimulus check" - or didn't get the full amount, you could be eligible for the Recovery Rebate Credit.

You'll need to file a 2021 tax return, even if you don't usually file, to claim the credit.

The IRS will send Letter 6475 in early 2022, which contains the total amount of the third stimulus payment.

Charitable contributions

Taxpayers who don't itemize deductions may qualify to take a deduction of up to $600 for married couples filing joint returns and up to $300 for all other filers for any cash contributions made in 2021 to qualifying organizations.

07/17/2021

***FYI*** For all of those who have texted me about this. Here are some of your answers.

Monthly payments for the federal child tax credit—significantly expanded for a year through President Joe Biden’s $1.9 trillion coronavirus relief package—start officially rolling out Thursday.

07/14/2021

FYI tomorrow the IRS will start depositing the Child Tax Relief monthly payments. For those who don't have bank accounts for direct deposit your checks should be mailed out and you should be receiving them by Monday. We will keep you posted on any changes or updates.

As always please stay safe and we will see you all in a few more months!!

05/13/2021

There are only 5 days left if you have not filed your taxes yet. Please feel free to reach out to us (860)922-8650 or inbox us or email us at [email protected].

01/17/2021

****Just an FYI***

2021 tax filing season begins Feb. 12; IRS outlines steps to speed refunds during pandemic

For those of you that are in a rush to receive money before then. We do offer Pre Acknowledgement Loans. Please call, text or inbox us with any questions.

https://www.irs.gov/newsroom/2021-tax-filing-season-begins-feb-12-irs-outlines-steps-to-speed-refunds-during-pandemic

12/31/2020

I know I posted yesterday that we will start accepting and preparing preAck EA's as early as 1/3/21. I just wanted to share this information to help with the questions that I have received.

12/30/2020

Good Afternoon Clients and Friends!!! I hope that everyone has stayed safe during these trying times. I just wanted to inform you all that as January 3rd we will be accepting PreEA Loans before the start of Tax Season. Please reach out to us today. (860)922-8650 Have a Happy and Safe New Year!!! 🎉🎉🥂🥂