Martha @megataxsolution

Let's talk money! Joined December 2021

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Martha @megataxsolution

3 years ago

The IRS has 45 days to process returns and issue refunds. After that, it’s required to pay interest. And starting last month, that interest rate jumped to 4% for individuals. (On the average refund of $2,800, that would work out to $112.)

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Martha @megataxsolution

4 years ago

What Documents Do I Need to Bring to My Tax Preparer? Social Security documents. Income statements such as W-2s and MISC-1099s. Tax forms that report other types of income, such as Schedule K-1 for trusts, partnership and S corporations. Tax deduction records. Expense receipts.

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Martha @megataxsolution

4 years ago

Child Tax Credit The total credit amount increased for this year: For kids under 6, it went from $2,000 to $3,600. For kids ages 6-16, it went from $2,000 to $3,000. 17-year-olds were previously excluded, but are now eligible for a credit of $3,000.

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Martha @megataxsolution

4 years ago

Those families who didn’t receive Child Tax Credit payments may claim any missed payments on the upcoming 2021 tax return.

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Martha @megataxsolution

4 years ago

The standard deduction for married couples filing jointly for tax year 2022 rises to $25,900. For single taxpayers and married individuals filing separately, the standard deduction rises to $12,950 for 2022, and for heads of households will be $19,400.

Martha @megataxsolution

Martha @megataxsolution

Martha @megataxsolution

Martha @megataxsolution

Martha @megataxsolution

Martha @megataxsolution

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