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…
DetailsFind out the important changes to the Child Tax Credit that will start in summer of 2021.
DetailsEveryone makes mistakes. Learn the most common mistakes when filing for income taxes.
DetailsAccording to the IRS, taxpayers should file their tax return by the deadline even if they cannot pay the full amount due. If an individual taxpayer owes taxes, but cannot pay in full by the May 17, 2021 deadline, they should file their tax return or request an extension of time to file by the…
DetailsAre my unemployment benefits taxable? Normally, yes however for 2020 the first $10,200 of unemployment benefits are tax-free. What to do if I already filed my taxes and I had unemployment? The IRS also recently announced that filers who submitted their 2020 tax returns without accounting for a tax exemption on $10,200 of unemployment…
DetailsTaxpayers should double-check to make sure they have all their documents before filing a tax return. Taxpayers who haven’t received a W-2 or Form 1099 should contact the employer, payer or issuing agency and request the missing documents. This also applies for those who received an incorrect W-2 or Form 1099. If they can’t get…
DetailsTaxes are never as easy as we want them to be, and 2020 taxes will bring even greater challenges. Today our experts are sharing some tax tips we hope will simplify your filing! As always, we are also happy to take on the challenge for you; give us a call at 814-333-2488! Tips for…
DetailsThe IRS announced on February 16th that, as required by law, all legally permitted first and second round of Economic Impact Payments (stimulus) have been issued. If you did not receive a payment or if you did not receive the full amount, you may be eligible to claim the recovery rebate credit, and to do…
DetailsThis year (2021) is the most complex tax season that we have ever seen! Leave it to your local tax experts at Meadville Tax Service to guide you through it. Call 814–333-2488 to schedule an appointment today! Did your business receive an EIDL advance grant last year for less than the $10,000 maximum amount? You may be eligible to receive…
DetailsThis year (2021) is the latest start to tax season that we have ever seen! Leave it to your local tax experts at Meadville Tax Service to guide you through it. Call 814–333-2488 to schedule an appointment today! There are several important dates taxpayers should keep in mind for this year’s filing season: February 12. IRS…
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