Recovery efforts after natural disasters can be costly. With floods, tornadoes, hurricanes, earthquakes, and other natural disasters affecting so many people throughout the U.S. this year, many have been left wondering how they’re going to pay for the cleanup or when their businesses will be able to reopen. The good news is that there is relief for taxpayers – but only if you meet certain conditions. Let’s take a look:
Tax Due Dates for September 2021
September brings important tax filing deadlines for businesses and individuals. At Russo CPA we help navigate the waters of tax preparation through smart tax planning. Schedule a free tax consultation today and let us know how we can help you. …
Start Planning Now for Next Year’s Tax Return
This year’s tax deadline may have come and gone, but it’s never too early to start planning for next year. With that in mind, here are five things you can do now to make next April 15 easier for everyone.
How to Check the Status of Your Tax Refund
Taxpayers can start checking their tax refund status within 24 hours after receiving an e-filed return. The easiest and most convenient way to do this is by using the Where’s My Refund? Tool on the IRS website. The tool also provides a personalized refund date after the return is processed and a refund is approved.
Payment for Refundable Child Tax Credit Starts July 15
The first monthly payment of the expanded and newly-advanceable Child Tax Credit (CTC) from the American Rescue Plan will be made on July 15. Roughly 39 million households—nearly 90 percent of children in the United States—are slated to begin receiving monthly payments without any further action required.
Tax Withholdings Will Tax Your Nerves. Take These Steps Now.
Surprise! Will you be one of the taxpayers who gets this unwelcome one: You owe money to the IRS!
To ensure this doesn’t happen to you, take note of these 5 myths…
Tax Return Tips for Last-Minute Filers
When it comes to working on your taxes, earlier is better, but many people find preparing their tax return to be stressful and frustrating and wait until the last minute. Complicating matters this year is tax reform and the newly redesigned Form 1040. If you’ve been procrastinating on filing your tax return this year, here are eight tips that might help.
File on Time – Even if You Can’t Pay
Generally, taxpayers should file their tax returns by the deadline even if they cannot pay the full amount due, but if you can’t, there are several options. Let’s take a look at a few scenarios:
Common Errors To Avoid When Filing a Tax Return
While not all mistakes on tax returns cause delays in refunds, some do. As the May 17 deadline approaches, it pays to steer clear of the ten tax return errors listed below.
Refunds for Nontaxable Unemployment Compensation
The IRS is automatically refunding money to eligible people who filed their tax returns reporting unemployment compensation before the recent changes made by the American Rescue Plan.