Castillo's Tax & Notary Service

Castillo's Tax & Notary Service In Business Since 1981
40th ANNIVERSARY 1981-2021
(1)

Operating as usual

President Biden signed the $1.9 trillion American Rescue Plan Act in the Oval Office on Thursday, one day earlier than o...
03/11/2021

President Biden signed the $1.9 trillion American Rescue Plan Act in the Oval Office on Thursday, one day earlier than originally scheduled.

The latest: White House press secretary Jen Psaki said at a briefing shortly after the signing that Americans with direct deposit set up can expect to see relief payments hitting their bank accounts "as early as this weekend."

The $1.9 trillion stimulus package that Congress aims to send to President Biden this week may make tax filing even more...
03/11/2021

The $1.9 trillion stimulus package that Congress aims to send to President Biden this week may make tax filing even more complex.

For some Americans who have already filed, it may mean they need to amend their return.

Last week, the Senate made changes to the Covid relief bill passed by the House of Representatives that impact tax filing in the middle of the 2020 season. A key update in the bill, which the house passed Wednesday, is a provision that waives taxes on the first $10,200 in unemployment insurance income for individuals who have 2020 adjusted gross income of less than $150,000.

For married couples filing jointly who both had unemployment insurance, the tax-free amount is $20,400, but combined adjusted gross income must still be less than $150,000.

House Democrats just passed a massive $1.9 trillion COVID-19 relief bill with the goal of having it on President Joe Bid...
03/10/2021

House Democrats just passed a massive $1.9 trillion COVID-19 relief bill with the goal of having it on President Joe Biden’s desk by the end of the week, just days before key federal unemployment benefits start to expire for many workers on March 14.

By a 220-211 vote -- with no Republicans voting in favor -- Democrats handed Biden a crucial first legislative victory. The White House said he would sign the measure into law on Friday.

Still without Power and Water we will be closed Today Friday we will keep you posted on opening Saturday
02/19/2021

Still without Power and Water we will be closed Today Friday we will keep you posted on opening Saturday

Weather contenues to play a big roll Stay home and be safe, Our office will be Closed today Thursday we will keep you po...
02/18/2021

Weather contenues to play a big roll Stay home and be safe, Our office will be Closed today Thursday we will keep you posted

We have no Electrical Power We will Be Closed Today, Will keep you posted
02/17/2021

We have no Electrical Power We will Be Closed Today, Will keep you posted

Treasury and IRS begin delivering second round of Economic Impact Payments to millions of Americans_____________________...
01/01/2021

Treasury and IRS begin delivering second round of Economic Impact Payments to millions of Americans
________________________________________
The IRS and the Treasury Department began delivering a second round of Economic Impact Payments this week as part of the Coronavirus Response and Relief Supplemental Appropriations Act of 2021 to millions of Americans who received the first round of payments earlier this year. No action is required by eligible individuals to receive this second payment, as the payments are automatic. As with the first round of payments under the CARES Act, most recipients will receive these payments by direct deposit. For Social Security and other beneficiaries who received the first round of payments via Direct Express, they will receive this second payment the same way. If additional legislation is enacted to provide for an additional amount, the Economic Impact Payments that have been issued will be topped up as quickly as possible.
“Throughout this challenging year, the IRS has worked around the clock to provide Economic Impact Payments and critical taxpayer services to the American people,” said IRS Commissioner Chuck Rettig. “We are working swiftly to distribute this second round of payments as quickly as possible. This work continues throughout the holidays and into the new year as we prepare for the upcoming filing season. We urge everyone to visit IRS.gov in the coming days for the latest information on these payments and for important information and assistance with filing their 2021 taxes.”

HAPPY NEW YEAR 2021, WE WILL BE OPEN AT 3:PM JAN 4, 2021, READY FOR BUSINESS COME BY AND HAVE SOME FRESH POP CORN, VISIT...
12/30/2020

HAPPY NEW YEAR 2021, WE WILL BE OPEN AT 3:PM JAN 4, 2021, READY FOR BUSINESS COME BY AND HAVE SOME FRESH POP CORN, VISIT OUR WEB PAGE www.castillostax.com

WASHINGTON – Today, the Internal Revenue Service and the Treasury Department will begin delivering a second round of Eco...
12/30/2020

WASHINGTON – Today, the Internal Revenue Service and the Treasury Department will begin delivering a second round of Economic Impact Payments as part of the Coronavirus Response and Relief Supplemental Appropriations Act of 2021 to millions of Americans who received the first round of payments earlier this year.

The initial direct deposit payments may begin arriving as early as tonight for some and will continue into next week. Paper checks will begin to be mailed tomorrow, Wednesday, Dec. 30.

The IRS emphasizes that there is no action required by eligible individuals to receive this second payment. Some Americans may see the direct deposit payments as pending or as provisional payments in their accounts before the official payment date of Jan. 4, 2021. The IRS reminds taxpayers that the payments are automatic, and they should not contact their financial institutions or the IRS with payment timing questions.

As with the first round of payments under the CARES Act, most recipients will receive these payments by direct deposit. For Social Security and other beneficiaries who received the first round of payments via Direct Express, they will receive this second payment the same way.

Anyone who received the first round of payments earlier this year but doesn’t receive a payment via direct deposit will generally receive a check or, in some instances, a debit card. For those in this category, the payments will conclude in January. If additional legislation is enacted to provide for an additional amount, the Economic Impact Payments that have been issued will be topped up as quickly as possible.

Eligible individuals who did not receive an Economic Impact Payment this year – either the first or the second payment – will be able to claim it when they file their 2020 taxes in 2021. The IRS urges taxpayers who didn’t receive a payment this year to review the eligibility criteria when they file their 2020 taxes; many people, including recent college graduates, may be eligible to claim it. People will see the Economic Impact Payments (EIP) referred to as the Recovery Rebate Credit (RRC) on Form 1040 or Form 1040-SR since the EIPs are an advance payment of the RRC.

“Throughout this challenging year, the IRS has worked around the clock to provide Economic Impact Payments and critical taxpayer services to the American people,” said IRS Commissioner Chuck Rettig. “We are working swiftly to distribute this second round of payments as quickly as possible. This work continues throughout the holidays and into the new year as we prepare for the upcoming filing season. We urge everyone to visit IRS.gov in the coming days for the latest information on these payments and for important information and assistance with filing their 2021 taxes.”

Authorized by the newly enacted COVID-relief legislation, the second round of payments, or “EIP 2,” is generally $600 for singles and $1,200 for married couples filing a joint return. In addition, those with qualifying children will also receive $600 for each qualifying child. Dependents who are 17 and older are not eligible for the child payment.

Payments are automatic for eligible taxpayers

Payments are automatic for eligible taxpayers who filed a 2019 tax return, those who receive Social Security retirement, survivor or disability benefits (SSDI), Railroad Retirement benefits as well as Supplemental Security Income (SSI) and Veterans Affairs beneficiaries who didn’t file a tax return. Payments are also automatic for anyone who successfully registered for the first payment online at IRS.gov using the agency’s Non-Filers tool by Nov. 21, 2020 or who submitted a simplified tax return that has been processed by the IRS.

Who is eligible for the second Economic Impact Payment?

Generally, U.S. citizens and resident aliens who are not eligible to be claimed as a dependent on someone else’s income tax return are eligible for this second payment. Eligible individuals will automatically receive an Economic Impact Payment of up to $600 for individuals or $1,200 for married couples and up to $600 for each qualifying child. Generally, if you have adjusted gross income for 2019 up to $75,000 for individuals and up to $150,000 for married couples filing joint returns and surviving spouses, you will receive the full amount of the second payment. For filers with income above those amounts, the payment amount is reduced.
How do I find out if the IRS is sending me a payment?

People can check the status of both their first and second payments by using the Get My Payment tool, available in English and Spanish only on IRS.gov. The tool is being updated with new information, and the IRS anticipates the tool will be available again in a few days for taxpayers.
How will the IRS know where to send my payment? What if I changed bank accounts?

The IRS will use the data already in our systems to send the new payments. Taxpayers with direct deposit information on file will receive the payment that way. For those without current direct deposit information on file, they will receive the payment as a check or debit card in the mail. For those eligible but who don’t receive the payment for any reason, it can be claimed by filing a 2020 tax return in 2021. Remember, the Economic Impact Payments are an advance payment of what will be called the Recovery Rebate Credit on the 2020 Form 1040 or Form 1040-SR.
Will people receive a paper check or a debit card?

For those who don’t receive a direct deposit by early January, they should watch their mail for either a paper check or a debit card. To speed delivery of the payments to reach as many people as soon as possible, the Bureau of the Fiscal Service, part of the Treasury Department, will be sending a limited number of payments out by debit card. Please note that the form of payment for the second mailed EIP may be different than for the first mailed EIP. Some people who received a paper check last time might receive a debit card this time, and some people who received a debit card last time may receive a paper check.

IRS and Treasury urge eligible people who don’t receive a direct deposit to watch their mail carefully during this period for a check or an Economic Impact Payment card, which is sponsored by the Treasury Department’s Bureau of the Fiscal Service and is issued by Treasury’s financial agent, MetaBank®, N.A. The Economic Impact Payment Card will be sent in a white envelope that prominently displays the U.S. Department of the Treasury seal. It has the Visa name on the front of the Card and the issuing bank, MetaBank®, N.A. on the back of the card. Information included with the card will explain that this is your Economic Impact Payment. More information about these cards is available at EIPcard.com.

Are more people eligible now for a payment than before?

Under the earlier CARES Act, joint returns of couples where only one member of the couple had a Social Security number were generally ineligible for a payment – unless they were a member of the military. But this month’s new law changes and expands that provision, and more people are now eligible. In this situation, these families will now be eligible to receive payments for the taxpayers and qualifying children of the family who have work-eligible SSNs. People in this group who don’t receive an Economic Impact Payment can claim this when they file their 2020 taxes under the Recovery Rebate Credit.

Is any action needed by Social Security beneficiaries, railroad retirees and those receiving veterans’ benefits who are not typically required to file a tax return?

Most Social Security retirement and disability beneficiaries, railroad retirees and those receiving veterans’ benefits do not need take any action to receive a payment. Earlier this year, the IRS worked directly with the relevant federal agencies to obtain the information needed to send out the new payments the same way benefits for this group are normally paid. For eligible people in this group who didn’t receive a payment for any reason, they can file a 2020 tax return.

I didn’t file a tax return and didn’t register with the IRS.gov non-filers tool. Am I eligible for a payment?

Yes, if you meet the eligibility requirement. While you won’t receive an automatic payment now, you can still claim the equivalent Recovery Rebate Credit when you file your 2020 federal income tax return.
Will I receive anything for my tax records showing I received a second Economic Impact Payment?

Yes. People will receive an IRS notice, or letter, after they receive a payment telling them the amount of their payment. They should keep this for their tax records.
Where can I get more information?

For more information about Economic Impact Payments and the 2020 Recovery Rebate, key information will be posted on IRS.gov/eip. Later this week, you may check the status of your payment at IRS.gov/GetMyPayment. For other COVID-19-related tax relief, visit IRS.gov/Coronavirus.

Economic Impact Payment InformationNovember 21 at 3 p.m. ET Deadline to Request Your Economic Impact Payment if you have...
11/18/2020

Economic Impact Payment Information
November 21 at 3 p.m. ET Deadline to Request Your Economic Impact Payment if you have not file a 2018 or 2019 Tax Return, After Nov 21 you would have to wait until you File you 2020 Tax Return in 2021 Tax Season

IRS HAS LUNCH A WEB SITE TO INPUT YOUR UP TO DATE INFO, CHECKS WILL BE GOING OUT NEXT WEEKIF YOU DID NOT RECEIVED A REFU...
04/10/2020
Non-Filers: Enter Payment Info Here | Internal Revenue Service

IRS HAS LUNCH A WEB SITE TO INPUT YOUR UP TO DATE INFO, CHECKS WILL BE GOING OUT NEXT WEEK
IF YOU DID NOT RECEIVED A REFUND DIRECT DEPOSIT YOU CAN DO THIS AT THIS WEB SITE AND ENTER YOUR ACCOUNT AND ROUTING NUMER FOR MORE INFOR CALL US WE CAN HELP.

https://www.freefilefillableforms.com/#/fd/EconomicImpactPayment

Steps to receive the Economic Impact Payment if you haven't filed a tax return for 2018 or 2019, and aren't receiving Social Security, SS Disability Income or Railroad Retirement benefits. This payment is also referred to as "stimulus checks" or "coronavirus relief."

04/07/2020

How will the IRS know where to send my payment?
The vast majority of people do not need to take any action. The IRS will calculate and automatically send the economic impact payment to those eligible.

For people who have already filed their 2019 tax returns, the IRS will use this information to calculate the payment amount. For those who have not yet filed their return for 2019, the IRS will use information from their 2018 tax filing to calculate the payment. The economic impact payment will be deposited directly into the same banking account reflected on the return filed.

The IRS does not have my direct deposit information. What can I do?
In the coming weeks, Treasury plans to develop a web-based portal for individuals to provide their banking information to the IRS online, so that individuals can receive payments immediately as opposed to checks in the mail.

Economic impact payments: What you need to knowCheck IRS.gov for the latest information: No action needed by most people...
03/30/2020
Coronavirus Tax Relief | Internal Revenue Service

Economic impact payments:
What you need to know
Check IRS.gov for the latest information: No action needed by most people at this time
IR-2020-61, March 30, 2020
WASHINGTON – The Treasury Department and the Internal Revenue Service today announced that distribution of economic impact payments will begin in the next three weeks and will be distributed automatically, with no action required for most people. However, some seniors and others who typically do not file returns will need to submit a simple tax return to receive the stimulus payment.
Who is eligible for the economic impact payment?
Tax filers with adjusted gross income up to $75,000 for individuals and up to $150,000 for married couples filing joint returns will receive the full payment. For filers with income above those amounts, the payment amount is reduced by $5 for each $100 above the $75,000/$150,000 thresholds. Single filers with income exceeding $99,000 and $198,000 for joint filers with no children are not eligible.
Eligible taxpayers who filed tax returns for either 2019 or 2018 will automatically receive an economic impact payment of up to $1,200 for individuals or $2,400 for married couples. Parents also receive $500 for each qualifying child.
How will the IRS know where to send my payment?
The vast majority of people do not need to take any action. The IRS will calculate and automatically send the economic impact payment to those eligible.
For people who have already filed their 2019 tax returns, the IRS will use this information to calculate the payment amount. For those who have not yet filed their return for 2019, the IRS will use information from their 2018 tax filing to calculate the payment. The economic impact payment will be deposited directly into the same banking account reflected on the return filed.
The IRS does not have my direct deposit information. What can I do?
In the coming weeks, Treasury plans to develop a web-based portal for individuals to provide their banking information to the IRS online, so that individuals can receive payments immediately as opposed to checks in the mail.
I am not typically required to file a tax return. Can I still receive my payment?
Yes. People who typically do not file a tax return will need to file a simple tax return to receive an economic impact payment. Low-income taxpayers, senior citizens, Social Security recipients, some veterans and individuals with disabilities who are otherwise not required to file a tax return will not owe tax.
How can I file the tax return needed to receive my economic impact payment?
IRS.gov/coronavirus will soon provide information instructing people in these groups on how to file a 2019 tax return with simple, but necessary, information including their filing status, number of dependents and direct deposit bank account information.
I have not filed my tax return for 2018 or 2019. Can I still receive an economic impact payment?
Yes. The IRS urges anyone with a tax filing obligation who has not yet filed a tax return for 2018 or 2019 to file as soon as they can to receive an economic impact payment. Taxpayers should include direct deposit banking information on the return.
I need to file a tax return. How long are the economic impact payments available?
For those concerned about visiting a tax professional or local community organization in person to get help with a tax return, these economic impact payments will be available throughout the rest of 2020.
Where can I get more information?
The IRS will post all key information on IRS.gov/coronavirus as soon as it becomes available.
The IRS has a reduced staff in many of its offices but remains committed to helping eligible individuals receive their payments expeditiously. Check for updated information on IRS.gov/coronavirus rather than calling IRS assistors who are helping process 2019 returns.

To explain the tax relief for those affected by coronavirus.

Address

955 SW 37th St
San Antonio, TX
78237-3318

General information

Tax Preparation, Immigration Assistance, Notary Services Individual Returns & Business Returns ***GET YOUR TAX REFUND IN 10 TO 14 DAYS FOR ONLY $80.00***** Individual Returns only must have a checking account for Direct Deposit

Opening Hours

Monday 15:00 - 19:00
Tuesday 15:00 - 19:00
Wednesday 15:00 - 19:00
Thursday 15:00 - 19:00
Friday 15:00 - 18:00
Saturday 09:00 - 12:00

Telephone

(210) 432-6052

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