Tag: Tax Return

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Claim $8,000 per child on your 2021 taxes

Various stimulus programs have been created under the American Rescue Act to help struggling Americans. One of the measures allows parents to claim up to $8,000 more dollars on their taxes in 2022. This is thanks to the child and dependent care ... MORE
IRS, News, Tax Return
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This change will give more people a $2,000 tax break in 2022

People that save for retirement have an opportunity to earn $2,000 next year. The IRS has expanded its eligibility range for the Saver’s Credit tax break. The Saver’s Credit was known as the retirement savings contributions credit. It gives Americans that work ... MORE
IRS, News, Retirement, Tax Return
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10 tips to get the most out of your tax refund next year

Tax season is a time many people either love or dread. It usually comes down to how much you’re owed and looking forward to that payout, or dreading what you owe the IRS. As the year comes to a close, there may ... MORE
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Do you have kids? You could see a surprise $8,000 payment in 2022

Many American families may be entitled to a tax credit worth up to $8,000 in 2022. If they have kids under the age of 13 and make less than $125,000, they can claim the credit. It’s called the child and dependent tax ... MORE
News, Tax Refund, Tax Return
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You may be getting a smaller tax refund next year, here’s why

The pandemic has taken a financial toll on the United States over the last two years, and tax season may be no different. Americans have struggled and stimulus checks have given relief to many. Tax refunds are usually a nice relief as ... MORE
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$975 cash payment deadline is extended to December 31, here’s how to apply

Pennsylvania residents have a chance to claim a cash payment worth up to $975 before the new year. The cash is available through the property tax and rent rebate program in Pennsylvania only. By law the deadline every year is June 30, ... MORE
News, Tax Rebate, Tax Return
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This tax break can save you up to $2,000

Americans struggling from COVID-19 related hardships could save themselves $2,000 with a tax break. In order to claim it, you must have a retirement account and it can be claimed in the 2022 fiscal year. Eligible Americans can claim this tax credit ... MORE
IRS, News, Tax Credit, Tax Return
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If you’re struggling, here’s how Americans can reduce their tax bill by thousands

The IRS wants to help struggling Americans that may have a hard time when it comes to paying their taxes. One of the ways they’re offering help is by offering a offer in compromise to help taxpayers avoid being scammed. Sometimes people ... MORE
IRS, News, OIC, Tax Return
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How are filing taxes and tax brackets changing for married couples in 2022?

Marital status for tax reasons is important. It determines someone’s filing status at the end of the year. Information is available to help couples prepare. The IRS shared new inflation adjustments, which will be used in 2023 when people file their taxes ... MORE
IRS, News, Tax Return
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Stimulus check: Are you getting the surprise $1,502 check in 2022?

Workers who don’t have kids may be eligible for up to $1,502 dollars of stimulus support in 2022. The changes made to the earned income tax credit under the American Rescue Plan may give people more cash next tax season. The credit ... MORE
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Social Security: What age do recipients no longer pay taxes on benefits?

Social security benefits are designed to help pay for a retirees life. Sometimes people still need to pay taxes on them because the payments are considered income. The magic age for retiring to not have to pay taxes on your benefits is ... MORE
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Stimulus check: Are you one of the thousands of Americans eligible for a surprise tax refund?

Some states are changing how their taxes work this year, with many residents getting surprise refunds before the holidays. The Department of Revenue for Pennsylvania announced letters will be going out to thousands of residents soon. The letters are going to low ... MORE
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IRS: Have a child under age 13? Your household could get $8,000 in tax credits

Child tax credits have been a lifeline for families throughout the country, but there’s another benefit some families are overlooking. There are also child and dependent care tax credits to help families pay for the cost of working and providing for a ... MORE
IRS, News, Tax Return
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How 2022 federal income rates work

The changes for 2022’s tax year has been released, and it could change how much people pay when tax season rolls around in 2023. The adjustments are due to the major increase in inflation that reached a 30 year high in October ... MORE
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Tax brackets are being raised thanks to the impact of inflation across the nation

The massive surge in consumer pricing has caused inflation adjustments for the 2022 tax year. This applies to federal income brackets and the standard deduction. Tax bracket thresholds are now rising and tax bracket cut off points increased around 3%. This is ... MORE
Income Tax, IRS, News, Tax Return