Tax Filing for the 2021 tax year will start 1/24/22 according to the IRS. Once again we are faced with a multitude of changes again this filing season. Many of these changes are directly related to COVID and The American Rescue Plan Act passed last March.
If you received your stimulus you should have also gotten a 1044-c. You will need these numbers to reconcile it on your tax return. If you received Advanced Child Tax Credit you will be receiving a form 6419 that will be needed to calculate your CTC. If you filed before the changes last year you should of had your taxes adjusted if you received unemployment the first $10000 was not taxed. You will need the letter you received or a copy of your tax transcripts so your Ohio taxes can be amended. There is also a $300-$600 deduction on cash charitable contributions even if your not going long form. The IRS is also saying not to expect release of refunds containing refundable credits till late February. Currently April 15th is the expected deadline to file your 2021 taxes.
Time to start getting organized. You should begin getting your necessary documents after January 31st.
Good Luck !!!
Patrick A. O’Connor EA
Recent Comments