by Naveed Lodhi | Aug 3, 2021 | Tax Tips & Planning
The IRS will be issuing advance payments of the child tax credit through December. Eligible families will receive $300 per child aged 5 and under or $250 per child aged 6-17. While some taxpayers are welcoming the payments with open arms, others rather wait until...
by Naveed Lodhi | Aug 3, 2021 | Tax Tips & Planning
Still waiting on your tax refund? Unfortunately, you’re not alone. According to the National Taxpayer Advocate Service the IRS had a backlog of 35 million unprocessed returns as of last month. As a result, it’s taking a lot longer than the usual 21 days for...
by Naveed Lodhi | Jul 1, 2021 | Tax Tips & Planning
The American Rescue Plan was created to provide relief to millions of Americans. It provided stimulus payments, lower health insurance premiums and several tax law changes which will impact your return when you file next year. Here are some of the big...
by Naveed Lodhi | Jun 29, 2021 | Tax Tips & Planning
Once your tax return has been filed and accepted, it’s only a matter of time before you start wondering how long it’s going to take to get your money. According to the IRS website, most refunds are issued within 21 days of acceptance. However,...
by Naveed Lodhi | Apr 27, 2021 | Tax Tips & Planning
Still missing a stimulus payment? If so, stop waiting and act now. You’re going to need to file your 2020 tax return to get the money you’re owed. The sooner you file, the faster you’ll get paid. Here’s who qualifies and how to claim the missing funds. Who...
by Naveed Lodhi | Mar 26, 2021 | Tax Tips & Planning
Nobody likes to make mistakes, especially when it comes to taxes. But accidents happen. If you didn’t get your return right the first time, you can fix it using Form 1040-x, Amended U.S. Individual Income Tax Return. You must file an amended return within three...