Are you still waiting on your tax refund? Do you feel like you’re the last one? Well, the IRS says there’s over 16 million of you, and they’ll get it to you when they damn well get around to it! OK, they didn’t really say it quite like that, but that’s the gist of it. They also say you’re welcome to call and wait on hold, and they’ve even been picking up on about 2 of every 100 calls. No kidding, they really said that! 2% They may just be cracking under the pressure. Thanks Congress; you broke the IRS…
The IRS is struggling to implement all the changes Congress has mandated, and one of the highest priorities right now is sending everyone with kids monthly payments starting July 15th. Well, not everyone. Just 39 million households. These payments are an advance against the expanded Child Tax Credit you normally get when you file your taxes, and you will automatically receive the advance unless you opt-out. It breaks down like this:
- $300 per month for each child under age 6 (up to $3600)
- $250 per month for each child age 6-18 (up to $3000)
You get the remaining credit when you file your taxes (or the whole amount if you opt-out). Supposedly, there will be a way to tell them if you have a new child so they can increase your monthly payment. Supposedly, there will be a way to change your bank account information. I’m sure they’ll let us know. It’s on their ToDo List!
It’s been a unique and challenging year for all of us. There’s an English saying: “May you live in interesting times.” It actually comes from a traditional Chinese curse! Here’s to all of us having a nice boring upcoming year!
The best way to contact us during the off-season is email. You can also call and leave a message, but we’re typically in the office only a couple times a week.