Tax season is about to begin. The IRS is already facing a backlog

The 2021 tax filing season will begin on Monday, Jan. 24, 2022, the Treasury Department announced Monday. But amid the ongoing pandemic and a lack of resources at the Internal Revenue Service, Treasury officials warn it will be a challenge for taxpayers and tax preparers facing a frustrating filing season. Normally, the IRS would have … Read more

IRS Warns Some Taxpayers May Have Received Incorrect Child Tax Credit Letter 6419

IRS sends letters to millions of parents who received advance Child tax credit payments last year, urging people to refer to these forms – letter 6419 – when filing their tax returns. But on Monday, the agency warned that some of those letters may contain incorrect information. The misinformation could have serious financial implications for … Read more

Child poverty rises after child tax credit payments end

The child poverty rate in the United States has risen since the end of monthly government checks for the Expanded Child Tax Credit in December, according to a recent study by researchers at Columbia University. According to their analysis, an additional 3.7 million children fell into poverty in January. That pushed the national child poverty … Read more

Monthly child tax credit payments have stopped, but families can still get the rest of the credit on tax returns

Katrena Ross started receiving $ 300 a month last July as part of the expanded monthly child tax credit payments. The Michigan mother of three, including a son with autism, used the money to pay for gas to drive her children to school and to feed them healthier food. “To a lot of people it … Read more

Monthly child tax credit payments have stopped. But families who file their tax returns can still get the rest of the credit, officials say.

Katrena Ross started receiving $ 300 a month last July as part of the expanded monthly child tax credit payments. The Michigan mother of three, including a son with autism, used the money to pay for gas to drive her children to school and to feed them healthier food. “To a lot of people it … Read more

2022 tax refund: Why the IRS might send you a smaller refund

Getting a tax refund is a highly anticipated event, with 3 out of 4 taxpayers typically receiving a check from the IRS after filing their tax return. But this year, tax experts warn some people may receive a smaller-than-normal check. The biggest issue that could impact tax refunds is the enhanced child tax credit, tax … Read more