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Who Qualifies for Advance Payments
To qualify for advance payments of the Child Tax Credit, you (and your spouse, if you filed a joint return) must have:

Filed a 2019 or 2020 tax return and claimed the Child Tax Credit on the return or
Given us your information in 2020 to receive the Economic Im...

What are the recordkeeping requirements for self-employed individuals?
Be sure to maintain business records throughout the year for which you plan to claim the credit. This is because a taxpayer must prove earned income to claim the credit. You'll need the following information if you're self-emp...

The American Rescue Plan Act of 2021 provides relief to individuals who received unemployment compensation in 2020.
It excludes up to $10,200 of their unemployment compensation from their gross income if their modified adjusted gross
income (AGI) is less than $150,000. In the case of married indi...

April 18 tax filing deadline for most
The filing deadline to submit 2021 tax returns or an extension to file and pay tax owed is Monday, April 18, 2022, for most taxpayers. By law, Washington, D.C., holidays impact tax deadlines for everyone in the same way federal holidays do. The due date is Ap...

The American Rescue Plan Act of 2021, was enacted on March 11, 2021, making the Child and Dependent Care credit substantially more generous and potentially refundable(up to $4,000 for one qualifying person and $8,000 for two or more qualifying persons) only for the tax year 2021, This means an el...

Earned Income
Earned income includes all the taxable income and wages you get from working for someone else, yourself or from a business or farm you own.

Election to use prior-year earned income
You can elect to use your 2019 earned income to figure your 2021 earned income credit (EIC) if your 2...

Like last year, there will be individuals filing tax returns who, even though they are not required to file, need to file a 2021 return to claim a Recovery Rebate Credit to receive the tax credit from the 2021 stimulus payments or reconcile advance payments of the Child Tax Credit. People who don...

The IRS encourages everyone to have all the information they need in hand to make sure they file a complete and accurate return. Having an accurate tax return can avoid processing delays, refund delays and later IRS notices. This is especially important for people who received advance Child Tax C...

2022 tax filing season begins Jan. 24; IRS outlines refund timing and what to expect in advance of April 18 tax deadline

WASHINGTON − The Internal Revenue Service announced that the nation's tax season will start on Monday, Jan. 24, 2022, when the tax agency will begin accepting and processing 2...