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Watch This Before You File Your 2021 IRS Taxes in 2022 (Changes)

Watch This Before You File Your 2021 IRS Taxes in 2022 (Changes)

FromThe Economic Ninja


Watch This Before You File Your 2021 IRS Taxes in 2022 (Changes)

FromThe Economic Ninja

ratings:
Length:
4 minutes
Released:
Dec 29, 2021
Format:
Podcast episode

Description

https://abc7.com/tax-season-2022-filing-taxes-irs-refund-check/11394667/
It comes down to these 3 tax changes: 
1. Child tax credit payments Families who received advance payments this year will need to keep an eye out for Letter 6419 from the IRS. It's already being sent out, according to the IRS. The letter includes the total amount of advance child tax credit payments taxpayers received in 2021. 
2. Stimulus payments and Recovery Rebate Credit If you didn't qualify for the third economic impact payment - commonly referred to as a "stimulus check" - or didn't get the full amount, you could be eligible for the Recovery Rebate Credit. You'll need to file a 2021 tax return, even if you don't usually file, to claim the credit.
3. Charitable contributions Taxpayers who don't itemize deductions may qualify to take a deduction of up to $600 for married couples filing joint returns and up to $300 for all other filers for any cash contributions made in 2021 to qualifying organizations The IRS will send Letter 6475 in early 2022, which contains the total amount of the third stimulus payment.
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Released:
Dec 29, 2021
Format:
Podcast episode

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