We are following the changes to the new IRS Tax Laws very closely.
Along with $1,400 stimulus checks and enhanced unemployment benefits, the package includes updates to the current child tax credit. In the tax year 2021, under the new provisions, families are set to receive a $3,000 annual benefit per child ages 6 to 17 and $3,600 per child under 6. The credit will also be fully refundable. If you received unemployment compensation during 2020, the first 10,200 is tax exempt. If you have already filed your Personal Tax Return, we can file an Amended Return for a small fee. If you have not filed your Personal Tax Return and think these new tax laws will affect you, we can file an extension.