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$1,200 per single filer (not claimed as a dependent on another taxpayer's return)
$2,400 joint filers
$500 per child who qualifies for the Child Tax Credit. (This is for dependents who are UNDER the age of 17)
Yes. The limitations start once a taxpayer reaches the following income (based on Adjusted Gross Income on tax return):
$75,000 Single Filers (Single, Married Filing Seperate)
$112,500 Head of House Hold Filers
$150,000 Married Filing Joint Filers
Once the income has reached these amounts, it does not neccessarily mean the taxpayer will not receive a credit, it just means it will be reduced. $50 of the credit will be reduced per $1,000 above the limitations (5%).
The IRS will base information from 2019 returns as it is the most current. If a 2019 return was not yet filed, they will turn to 2018. If both returns have not yet been filed, you will receive the credit (or additional portion of a credit, if eligible) in 2020 Tax Returns done in 2021.
It looks like you will be eligible to receive a credit! Contact us to help you file a return to be eligible for receiving the credit, but ACT FAST! We do charge $15 for processing (this is how much we are charged). If you would like for us to complete your 2019 or 2018 return, please CLICK HERE to get started!
The credit cannot be reduced for certain unpaid debts, including debts owed to a federal agency (excluding child support), past-due state income taxes, federal taxes, or unemployment compensation debts. If you are behind in child support, your check WILL be reduce
The bill would require that individuals identified as eligible to receive a payment be sent a notice that provides them with information on the amount of the payment, how it will be delivered (direct deposit/paper check), and a phone number at the Internal Revenue Service (IRS) to call if the payment is not received.
Yes, but you will receive direct assistance via Social Security Admin, not through the IRS. This will look like an additional payment from Social Security. YOU DO NOT NEED TO FILE A RETURN.
The bill would require that individuals identified as eligible to receive a payment be sent a notice that provides them with information on the amount of the payment, how it will be delivered (direct deposit/paper check), and a phone number at the Internal Revenue Service (IRS) to call if the payment is not receive
No, you do not need to do anything except to have filed a tax return if you were required to file in 2018 or 2019.
This is the top question! Trump wants these checks going out within two weeks however, the IRS (we all know how slow they like to be when it comes to refunds...) say most likely in May. If it is Direct Deposit, you will receive it sooner than those receiving a check. A Check can take much longer due to millions of people receiving them.
Any questions you have you don't see above? Contact us by e-mail. please e-mail by filling out the CONTACT US FORM. We will reply to your questions within the day. If you need your 2018 or 2019 tax returns ELECTRONICALLY filed. Please stay safe during these times and take care of yourselves.
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