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Tax Season 2021 Please Call to Schedule an Appointment (706)485-3639Tax Season 2021 Please Call to Schedule an Appointment (706)485-3639

American Rescue Plan Act of 2021 requires IRS to start making monthly payment of the child tax credit to eligible families from July to December 2021. This gives the agency a few months to set up its computer systems to handle such a massive program. It's unclear whether the IRS can get this up and running by July and make monthly remittances. If it does, then most families will receive six payments in 2021, one each month from July through December. The law does give the IRS wiggle room to begin the payments later in 2021 and to make them less often than monthly if needed. https://www.kiplinger.com//child-tax-credit-2021-who-gets-

Update: IRS will process returns already filed with unemployment income. Do Not amend returns filed with unemployment benefits prior to the $10,200 Exclusion. The IRS will refigure taxes on these returns and adjust the taxpayer's return accordingly, and send any refund amount directly to the taxpayer. The IRS has not yet communicated a timeline for making adjustments and sending refunds.

The Internal Revenue Service today announced the federal filing and payment deadlines are extended until May 17.

You Can Now Exclude Up to $10,200 of Unemployment Benefits On Your Taxes In a recent statement, the IRS urged taxpayers who have already filed their 2020 tax return to hold off on filing an amended tax return until it releases additional guidance on how to do so. https://www.forbes.com//10200-tax-free-unemployment-bene/

https://www.shannon-cpas.com/deferred-social-security-tax/

The deadline for tax filing is July 15. Here is a quick tax prep checklist to help you out!

Tax Filing Deadline is July 15 Please call Early to Schedule an Appointment! (706)485-3639Tax Filing Deadline is July 15 Please call Early to Schedule an Appointment! (706)485-3639

Why the Economic Impact Payment amount could be different than anticipated... https://www.irs.gov//why-the-economic-impact-payment-amoun

May-July 2020 Office Hours Please Call to Schedule an Appointment (706) 485-3639May-July 2020 Office Hours Please Call to Schedule an Appointment (706) 485-3639

https://www.republicbank.com/home/contact-us/tax Economic Impact Payments The following information is specific to taxpayers who elected to have their 2019 Federal tax refund processed by Republic Bank's Tax Refund Solutions program during the filing process.