The problems with stimulus payments, answered.The Recovery Rebate Credit has been added to 2020 US tax returns, for those who didn’t get any Economic Impact Payments (commonly known as stimulus payments) or received only a partial amount.If you have received your full stimulus payments, then there is no claiming again under the Recovery Rebate. Didn’t […]
We hear from Tanveer – a highly experienced EA for 13 years – and provide clarity on AGI, who can receive Stimulus Payments, and what the process is. Many Americans living abroad assumed they wouldn’t be eligible, but they are, and a lot more people can receive the stimulus payments than many think. What is […]
The US Government has passed the 2 trillion dollar stimulus package.US Residents with social security numbers, 𝗥𝗘𝗦𝗜𝗗𝗜𝗡𝗚 𝗔𝗡𝗬𝗪𝗛𝗘𝗥𝗘 𝗜𝗡 𝗧𝗛𝗘 𝗪𝗢𝗥𝗟𝗗, are eligible depending on their income. 🌎 “Resident” does not mean living in the U.S. when it comes to U.S. taxation. AMOUNT US$1,200 per adult depending on adjusted gross (worldwide) income. $500 for […]
American Rescue Plan 2021 On March 11, 2021 President Joe Biden signed the American Rescue Plan into law as part of his Build Back Better plan that includes the American Jobs Plan and American Families Plan. This was created in response to the COVID-19 pandemic, this American Rescue Plan is an emergency legislation package aimed […]
Do I have to file a US tax return➥ Child Tax Credit Refund The Child Tax Credit (CTC) is a refundable credit that reduces families’ tax liability by a certain amount per qualifying child. If the overall tax due is reduced below zero because of the credit, that amount is refunded to the taxpayer(s). This […]