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.

Our CPAs are available, and we have the knowledge, skill, and information that you need right now to address your financial needs impacted by the Infrastructure Investment and Jobs Act. Contact us today.

Maria Stromple, CPA, MST

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.