Be On the Lookout for Letters from the IRS!!

Be On the Lookout for Letters from the IRS!!   The IRS announced that it will begin to issue information letters to taxpayers who received Advance Child Tax Credit payments beginning in late December.  Additionally,  taxpayers who received the 3rd Economic Impact Payment last spring will also be issued information letters on these payments beginning…

Unenroll from Advance Child Tax Credit

We hope you are enjoying the summer weather.  We wanted to update you regarding the IRS portal and the deferring of the advanced payments of the child tax credit.  Late last week, the IRS finally updated and opened their on-line portal to allow individuals to unenroll from the advanced payments of the child tax credit.…

IRS is Making Automatic Additional Refund Payments for Unemployment Benefits Previously Reported as Taxable

IRS is Now Making Automatic Additional Refund Payments for Unemployment Benefits Previously Reported as Taxable, State of Ohio Will Require an Amended Tax Return     The Passage of the American Rescue Plan on March 11, 2021 effectively changed the 2020 tax rules regarding the taxation of unemployment benefits.  While these benefits are normally 100%…