Superior Tax Services

📣 Tax Season is Here! Let Superior Tax Service Help You! 📝💸

It’s that time of year again – tax season is officially upon us! Whether you're a small business owner, a family filing jointly, or someone with unique tax circumstances, Superior Tax Service is here to make your tax filing stress-free.

✅ Why Choose Superior Tax Service?
- Experience You Can Trust: Over a decade of expertise in individual and small business tax preparation.
- Personalized Service: Tailored solutions for your unique financial situation.
- Fast & Accurate: We stay up to date with the latest tax laws to maximize your refund and minimize your liability.
- Hassle-Free Process: Virtual or in-person appointments to fit your busy schedule.

📆 Don’t Wait! Book Your Appointment Today
The earlier you file, the sooner you can check taxes off your to-do list! Reach out to us now to schedule your consultation and let us handle the numbers.

📞 Call or text: 210-224-5000
📧 Email: [email protected]
🌐 Visit our website: www.superiortaxsa.com

✨ Let’s make this tax season your smoothest one yet! At Superior Tax Service, we’re committed to helping you keep more of your hard-earned money.

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Superior Tax Service Tax preparation done by experienced tax professionals.

Happy new year! You can call 210-224-5000, email [email protected] or book online at www.superiortaxsa.com! We look forward to hear from you!

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*IRS sending information letters to recipients of advance child tax credit payments and third Economic Impact Payments*

COVID Tax Tip 2022-03, January 5, 2022

The IRS started issuing information letters to advance child tax credit recipients in December. Recipients of the third round of the Economic Impact Payments will begin receiving information letters at the end of January. Using the information in these letters when preparing a tax return can reduce errors and delays in processing.

People receiving these letters should keep them. Do not throw them away. These letters can help taxpayers, or their tax professional prepare their 2021 federal tax return.

Advance child tax credit payments letter can help people get remainder of 2021 credit
To help taxpayers reconcile and receive all the 2021 child tax credits to which they are entitled, the IRS started sending Letter 6419, 2021 advance CTC, in late December 2021 and will continue into January. This letter includes the total amount of advance child tax credit payments taxpayers received in 2021 and the number of qualifying children used to calculate the advance payments. People should keep this and any other IRS letters about advance child tax credit payments with their tax records.

Families who received advance payments need to file a 2021 tax return and compare the advance payments they received in 2021 with the amount of the child tax credit they can properly claim on their 2021 tax return.

The letter contains important information that can make preparing their tax returns easier. People who received the advance payments can also check the amount of their payments by using the CTC Update Portal available on IRS.gov.

Eligible families who did not receive any advance child tax credit payments can claim the full amount of the child tax credit on their 2021 federal tax return. This includes families who don't normally need to file a tax return.

Economic Impact Payment letter can help people claim the 2021 recovery rebate credit
The IRS will begin issuing Letter 6475, Your Third Economic Impact Payment, to EIP recipients in late January. This letter will help Economic Impact Payment recipients determine if they are entitled to and should claim the recovery rebate credit on their 2021 tax returns when they file in 2022.

Letter 6475 only applies to the third round of Economic Impact Payments, which were issued in March through December of 2021. The third round of Economic Impact Payments, including "plus-up" payments, were advance payments of the 2021 recovery rebate credit that would be claimed on a 2021 tax return. Plus-up payments were additional payments the IRS sent to people who received a third Economic Impact Payment based on a 2019 tax return or information received from the Social Security Administration, Railroad Retirement Board or Veterans Affairs. Plus-up payments were also sent to people who were eligible for a larger amount based on their 2020 tax return.

Most eligible people already received the payments. However, people who are missing stimulus payments should review information on IRS.gov to determine their eligibility and whether they need to claim a recovery rebate credit for 2020 or 2021. This includes people who don't normally need to file a tax return.

The Economic Impact Payment letters include important information that can help people quickly and accurately file their tax return.

https://www.forbes.com/sites/sarahhansen/2021/06/07/irs-releases-child-tax-credit-payment-dates-heres-when-families-can-expect-relief/?utm_campaign=forbes&utm_source=facebook&utm_medium=social&utm_term=Gordie&fbclid=IwAR2PKR6uOvlvcgZh_BaA5NXjM8KODXz2J40iRro9UXlylOD7QpBAYEyUZls

IRS Releases Child Tax Credit Payment Dates—Here’s When Families Can Expect Relief Advance payments of the newly expanded and fully refundable credit of up to $3,000 per qualifying child will hit bank accounts once a month between July and December.