On Monday, January 24, The IRS began receiving 2021 tax returns. The IRS has suggestions to file accurately to increase the speed of your refund [IR-2022-18, 1-24-22]. The IRS anticipates processing 160 million individual tax returns before April 18th , 2022. The top questions posed to the IRS for 2021 tax filing include topics related to:
- The Child Tax Credit (CTC) Basic information
- Eligibility rules for claiming the 2021 CTC on a 2021 return
- Reconciling Advance Child Tax Credit Payments and Claiming the 2021 Child Tax Credit on Your 2021 Tax Return
- Claiming the 2021 Child Tax Credit If You Don’t Normally File a Tax Return
- Commonly Asked Immigration-Related Questions
To read the entirety of the IRS Bulletin IRS issues 2021 Filing Season frequently asked questions, information to help taxpayers preparing their 2021 returns.
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Maria is a Partner at Wilke & Associates, serving closely-held businesses in manufacturing, real estate, transportation/logistics, technology industries, and high net worth individuals and executives in delivering effective tax strategies.