Kondoskal CPA

Intuit, the financial software company behind TurboTax, announced Thursday that it will no longer be participating in the IRS Free File Program that allows Americans to use brand-name products to file their tax returns for free.

The company said in a blog post that while it has partnered with the IRS for the program for nearly 20 years, it was "not able to continue in the program and deliver all of the benefits that can help consumers make more money, save more, and invest for the future."

We are back with great news 🎉:

Student loan forgiveness is now tax-free, thanks to a provision included in the $1.9 trillion federal coronavirus stimulus package that President Joe Biden signed into law. Formerly, any student loan debt canceled by the government was considered taxable and levied at the borrower's normal income tax rate.

But we’re are right here in case you need us:)

Most refunds are sent within 21 days of e-filing. If you’re expecting a refund and want to know when you might get it, the Where’s My Refund? tool on the IRS website lets you plug in your name, filing status and refund amount to check on the status. A personalized refund date should show up 24 hours after you e-file.

To all the families with kids: 🚨Qualifying families will get monthly payments of up to $300 a month for each child under 6 and up to $250 a month for each child 6 to 17 years old. The Biden administration announced that about 39 million families will begin receiving monthly child tax credit payments for the first time starting July 15.

Happy Tax Day 2021! We normally "celebrate" Tax Day on April 15, but the IRS pushed the due date back to May 17 this year because of the COVID-19 pandemic. So, if you haven't already filed your 2020 federal income tax return and paid any tax due, you have until midnight tonight to get it done. (You can request an extension to file your return until October 15, but you still have to pay what you owe today.)

Even though the IRS will issue most refunds in less than 21 days, it’s possible that your refund has been delayed because it is stuck in processing.
There are many different reasons why your refund may have not been processed yet, but the most common include:
* Your tax return included errors.
* Your tax return is incomplete. This could mean that all of the necessary forms were not sent to the IRS for processing.
* Your return has been flagged for identity theft or fraud. If any social security number on your return has already been submitted for a particular tax year, your return will be flagged and delayed until it has been manually reviewed.
* If your return includes a claim filed for an Earned Income Tax Credit (EITC) or an Additional Child Tax Credit (ACTC) your return will be delayed. These credits are typically delayed for additional review.
Fell free to ask us questions!