Tax Tips

Child Tax Credit Payment Schedule for the Rest of 2021
Tax Breaks

Child Tax Credit Payment Schedule for the Rest of 2021

The IRS has already sent three batches of monthly child tax credit payments. Here's when you can expect the rest of your payments.
September 16, 2021
Another Child Tax Credit Payment is Being Sent Today
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Another Child Tax Credit Payment is Being Sent Today

The IRS is delivering another round of monthly child tax credit payments today. Most families will receive their payment by direct deposit.
September 15, 2021
Estimated Tax Payments Are Due Today
tax deadline

Estimated Tax Payments Are Due Today

The deadline for submitting your third estimated tax payment of 2021 is here, so get your payments in today.
September 15, 2021
What Are the Income Tax Brackets for 2021 vs. 2020?
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What Are the Income Tax Brackets for 2021 vs. 2020?

There are seven different federal income tax brackets for your 2021 tax return – each with its own marginal tax rate. Which bracket you end up in for …
September 14, 2021
When Are 2021 Estimated Tax Payments Due?
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When Are 2021 Estimated Tax Payments Due?

If you're self-employed or don't have taxes withheld from other sources of taxable income, it's up to you to periodically pay the IRS by making estima…
September 14, 2021

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Tax Relief Available for Hurricane Ida Victims
Tax Breaks

Tax Relief Available for Hurricane Ida Victims

People and businesses in Louisiana, Mississippi, New Jersey, New York and Pennsylvania impacted by Hurricane Ida get more time to file and pay certain…
September 13, 2021
When Retirees Need to File an Amended Tax Return
tax returns

When Retirees Need to File an Amended Tax Return

Realizing that you made a mistake after filing your tax return can be panic-inducing for retirees (or anyone else). But don't stress. You may not need…
September 13, 2021
COVID-19 Home Test Kits and PPE are Tax Deductible
Tax Breaks

COVID-19 Home Test Kits and PPE are Tax Deductible

You can also pay for home testing kits and personal protective equipment with FSA and HSA funds.
September 11, 2021
You Can Now Change Your Address for Monthly Child Tax Credit Payments
Tax Breaks

You Can Now Change Your Address for Monthly Child Tax Credit Payments

If you're receiving paper checks in the mail for your child tax credit payment, you can now use the IRS's online portal to update your address.
August 31, 2021
To Stop Your Next Child Tax Credit Payment, Opt-Out by Midnight Tonight
Tax Breaks

To Stop Your Next Child Tax Credit Payment, Opt-Out by Midnight Tonight

The deadline for opting out of the September monthly child credit payment is here. Use the IRS's Child Tax Credit Update Portal to unenroll.
August 30, 2021
Tax Deadlines Extended for Tennessee Flood Victims
Tax Breaks

Tax Deadlines Extended for Tennessee Flood Victims

Residents and businesses impacted by the recent storms and flooding in Tennessee get more time to file and pay certain federal taxes.
August 28, 2021
Tax Relief Available for California Wildfire Victims
Tax Breaks

Tax Relief Available for California Wildfire Victims

Following FEMA's recent disaster declaration, residents and businesses impacted by the California wildfires get more time to file and pay taxes.
August 28, 2021
IRS Extends Tax Deadlines for Louisiana Storm Victims
Tax Breaks

IRS Extends Tax Deadlines for Louisiana Storm Victims

Following FEMA's recent disaster declaration for severe storms and flooding Louisiana, impacted taxpayers get more time to file and pay certain federa…
August 27, 2021
I Have Shared Custody of My Child: Should I Get Monthly Child Tax Credit Payments?
Tax Breaks

I Have Shared Custody of My Child: Should I Get Monthly Child Tax Credit Payments?

Which parent receives monthly child tax credit payments depends on your most recent tax return. Plus, some parents who are receiving payments should o…
August 21, 2021
Should You Be Getting Monthly Payments for Your Kids? Check the IRS's Child Tax Credit Portal
Tax Breaks

Should You Be Getting Monthly Payments for Your Kids? Check the IRS's Child Tax Credit Portal

The IRS has an online tool that will help you track and manage your monthly child tax credit payments (although it's not fully functional yet).
August 20, 2021
Child Tax Credit Payment: Some Parents to Receive Paper Checks Instead of Direct Deposit Payments
Tax Breaks

Child Tax Credit Payment: Some Parents to Receive Paper Checks Instead of Direct Deposit Payments

Families who received their July child tax credit payment by direct deposit might get their August payment by mail.
August 13, 2021
How and When to Opt-Out of Monthly Child Tax Credit Payments
Tax Breaks

How and When to Opt-Out of Monthly Child Tax Credit Payments

If you want to stop advance payments of the 2021 child tax credit, you have to opt-out using the IRS's online tool before the monthly deadline.
August 13, 2021
2 Tax Credits to Claim for Energy-Efficient Home Renovations
tax planning

2 Tax Credits to Claim for Energy-Efficient Home Renovations

These tax incentives reward energy-efficient home improvements in different ways. Which credit you use depends on the remodeling you do.
August 11, 2021
Will U.S. Olympic Athletes Get Hit with a Tax Bill if They Win in Tokyo?
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Will U.S. Olympic Athletes Get Hit with a Tax Bill if They Win in Tokyo?

Thanks to a law passed in 2016, our medal-winning athletes will have little to worry about from the IRS.
August 5, 2021
IRS Is Sending More Unemployment Tax Refund Checks This Summer
Coronavirus and Your Money

IRS Is Sending More Unemployment Tax Refund Checks This Summer

Uncle Sam has already sent tax refunds to millions of Americans who are eligible for the $10,200 unemployment compensation tax exemption. More payment…
August 4, 2021
Will Monthly Child Tax Credit Payments Lower Your Tax Refund or Raise Your Tax Bill?
Tax Breaks

Will Monthly Child Tax Credit Payments Lower Your Tax Refund or Raise Your Tax Bill?

Everyone loves receiving large sums of money from Uncle Sam. But people who take advance child tax payments may take a hit on next year's tax refund.
July 31, 2021
IRS Extends Tax Deadlines for Michigan Storm Victims
tax deadline

IRS Extends Tax Deadlines for Michigan Storm Victims

Following FEMA's recent disaster declaration for severe storms, flooding and tornadoes in Michigan, impacted taxpayers get more time to file and pay c…
July 23, 2021
"Plus-Up" Stimulus Checks Have Already Been Sent to 9 Million Americans – Will You Get One Too?
Coronavirus and Your Money

"Plus-Up" Stimulus Checks Have Already Been Sent to 9 Million Americans – Will You Get One Too?

Some people who previously received a third stimulus check are getting a supplemental payment from the IRS. Is there a check coming with your name on …
July 21, 2021
Warning: You May Have to Pay Back Your Monthly Child Tax Credit Payments
Tax Breaks

Warning: You May Have to Pay Back Your Monthly Child Tax Credit Payments

Unlike stimulus checks, you might have to repay your monthly child tax credit payments if you get too much money from the IRS.
July 16, 2021
How Is Cryptocurrency Taxed? Here's What You Need to Know
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How Is Cryptocurrency Taxed? Here's What You Need to Know

If you think the lack of government oversight means that cryptocurrency is not taxed, you're in for a big surprise.
July 14, 2021