For filers claiming the Earned Income Tax Credit, be aware of the rules (taken from the Kiplinger Tax Letter) to avoid an expensive payback later!
As you may or may not have heard, the IRS has delayed acceptance of 2020 tax returns to February 12, 2021. Can you still get your tax return prepared before then? Absolutely! Tax Consultants, Inc., is here to serve you and ready to get everything done. Your return will just get submitted when the IRS opens which, unfortunately, means delayed refund times. Call us at 605-275-4002 to schedule your appointment with one of our licensed, credentialed preparers now!
Second round of stimulus payment being sent out NOW! Please read the article to answer all your questions.
If you did not receive an Economic Impact Payment (otherwise known as the Stimulus Payment) or you received less than $1,200, you may be able to get it via the Recovery Rebate Credit on your 2020 tax return. A couple other reminders here as well.
Your choice in tax preparer DOES matter! And when we ask clients for more details about income, business expenses, and deductions, it's not because we're being nosy. Our livelihood as tax professionals is on the line right along with yours, so we want to ensure that everything on your tax return...
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