Many Families with Children to Get Monthly Payment of Refundable Child Tax Credit

A provision of the American Rescue Plan is being readied for action, targeting nearly 90 percent of American households with children to receive monthly payments of the Child Tax Credit. The Internal Revenue Service and the Department of the Treasury expect to send out the first monthly payments of the expanded Child Tax Credit (CTC) […]

Economic Impact Payment by Prepaid Debit Card

Nearly four million people are being sent their Economic Impact Payment by prepaid debit card, instead of paper check. The determination of which taxpayers receive a debit card was made by the Bureau of Fiscal Service, another part of the Treasury Department that works with the IRS to handle distribution of the payments. These Economic […]

IRS People First Initiative provides relief to taxpayers facing COVID-19 issues

Due to COVID-19, the IRS’ People First Initiative provides relief to taxpayers on a variety of issues. • Existing Installment Agreements- Under an existing Installment Agreement, payments due between April 1 and July 15, 2020 are delayed. Those unable to meet the terms of an Installment Payment Agreement or Direct Deposit Installment Agreement may cancel […]

Higher Education Emergency Relief Fund and Emergency Financial Aid Grants under the Cares Act

Sections 3504, 18004, and 18008 of the Coronavirus Aid, Relief, and Economic Security Act (Cares Act) enacted on March 27, 2020, allow higher education institutions to use certain funds allocated by the Department of Education to support students and higher education institutions with expenses and financial needs related to the Coronavirus (COVID-19) pandemic. Section 3504 […]

Returning an Economic Impact Payment

New information has come out concerning Economic Impact Payments made to a deceased taxpayer. Does someone who died qualify for the Economic Impact Payment? • No. A payment made to someone who died before receipt of the Payment should be return to the IRS. • Return the entire payment unless the payment was made to […]

IRS retools Settlement Days program

Settlement Days program allows unrepresented taxpayers to settle their cases virtually and reach finality. Virtual Settlement Days is a coordinated effort to resolve Tax Court cases by giving taxpayers not represented by counsel the opportunity to receive free tax advice and possible tax representation from Low Income Tax Clinics (LITCs) or other pro bono organizations. […]

SSI AND VA recipients with a child who don’t file taxes should visit now

SSI and VA recipients who have children and weren’t required to file a tax return in 2018 or 2019 should visit the Non-Filers: Enter Payment Info Here Tool on by May 5. This will ensure they receive their full Economic Impact Payment as soon as possible. This tool is available in English and Spanish. […]