As we look to close out 2021 and all its challenges, we look forward to 2022 and turning the page.
As with the 2020 tax year filing, 2021 has many tax changes we need to ensure are handled correctly as not to delay any processing.
Here are some items to make sure you have as you compile your 2021 tax documents:
ACTC (Advance Child Tax Credit)
In January 2022, the IRS will send you Letter 6419 to provide the total amount of Advance Child Tax Credit payments that were disbursed to you during 2021. Please keep this letter regarding your advance Child Tax Credit payments with your tax records.
EIP3 (Economic Impact Payment #3)
Each qualifying individual on a prior year return should have received $1,400 each. Please make sure you have the total amount you received in early 2021. If the correct amount is not put on your 2021 tax return, it will be delayed. We saw many tax returns held up because of incorrect amounts for the 2020 tax year.
Per NYS, we must provide each client with:
NYS Taxpayer Bill of Rights
Please see our resource tab for access to both.
Please call the office and schedule an appointment today. You may also request an appointment through this website under the contact tab.
We look forward to working with you this year.