Tax Return

Tax Relief for Those Affected by Natural Disasters

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:

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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. …

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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.

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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.

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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.

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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:

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