Stimulus Payment for Americans Abroad➥ Recovery rebate, Stimulus, EIP 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 […]
Stimulus Payment for Americans Abroad➥ Adjusted Gross Income (AGI) 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 […]
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 […]
How Long Does It Take the IRS to Process a Tax Return? Tax returns in the U.S. are a massive part of your yearly financial planning. You will need to complete a tax return each year by June 15 if you’re living abroad (outside of the United States) for the previous year to declare any […]
Tax Deadline 2021 It’s coming up to that time of year again when tax returns are due. The first date that these can be submitted for 2021 is Jan 24, 2022. Filing a tax return can be a confusing process and, especially with the rules and deadlines changing slightly over the past couple of years, […]
The Third Economic Impact Payment. Did You Get It? In June 2021, the IRS had issued $390 billion in Third Economic Impact Payments (also known as Stimulus Payments). These payments were put in place to help businesses who had suffered as a result of the Covid-19 pandemic and the employees of these businesses who may […]
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 […]
