6 things parents should know about the new child tax credit

child tax credit

Millions of parents across the country will start receiving money from the federal government as soon as Thursday, July 15. Under the Child Tax Credit expansion put forth in under President Joe Biden’s $1.9 trillion American Rescue Plan, some households will start receiving monthly payments, instead of a lump sum payment in the past, and in most cases…

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Wednesday Q&A How will last year’s unemployment be taxed?

How will last year’s unemployment be taxed? Find out how your income is taxed if you had filed for unemployment in 2020. Do you have questions for Gregory? Press the ASK GREGORY below and your question could be featured next! ASK GREGORY We’re Here to Help Have questions about this week’s content, or need help…

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Want to Avoid Paying Taxes on Social Security? Here’s How

calculator

Throughout your working life, you pay taxes to earn Social Security benefits. That’s why it comes as such a surprise to many retirees that taxes don’t stop once you start collecting checks. In fact, a report from Senior Citizens League found around half of all Social Security beneficiaries owe federal taxes on their money. And it’s…

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How to File Your Taxes for Free in 2021

As if doing your taxes wasn’t irritating enough, it often ends up costing you money. Tax prep and unexpected fees basically go hand in hand. But if you’re paying to submit your federal return this year, save your cash — you can probably file for free. The IRS estimates that some 70% of Americans, or roughly 100 million taxpayers,…

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IRS to Delay Tax Deadline to Mid-May After Chaotic Year

irs

The Internal Revenue Service is planning to delay the April 15 tax filing deadline by about one month, giving taxpayers additional time to file returns and pay any outstanding levies, according to three people familiar with the discussions. The IRS is still figuring out what the final deadline will be. The agency is considering setting…

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1 big reason you may want to wait to file your 2020 tax return

busy city

Filing early will also return refunds quicker The IRS is urging taxpayers to file their returns as quickly as possible this year, which is normally sound advice, unless you fall into a specific group of individuals that may find themselves out of a stimulus check. Lawmakers are considering legislation that would potentially dole out an additional round of direct…

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