MTI Consulting Group

Setting up an online tax account with the IRS is a great way to obtain your tax documents without having to contact the agency by phone or mail. This feature allows you to log into an account and check payment balances, set up payment arrangements and view prior-year tax returns and reported tax forms.

American families are set to receive a more generous child tax credit for 2021. https://www.usatoday.com//child-tax-credit-202/4893305001/

The 2021 tax season heralds big changes surrounding stimulus payments and unemployment income. If you didn’t receive your Economic Impact Payments (aka stimulus checks), you can claim them on your 2020 tax return through the Recovery Rebate Credit. The credit will either increase your tax refund or reduce the amount you owe (and the credit will apply to both the first and second stimulus payments).

In a speech, the president outlined his plans to get more money to Americans struggling through the pandemic in 2021. https://www.cnet.com//bidens-next-two-stimulus-bills-5-wa/

What is a W-9, and Who Needs One? https://financialhotspot.com//what-is-a-w-9-and-who-needs/

Tip to get a head start on your 2021 taxes. Take time to organize your tax documents and financial records, which can make the actual filing process faster and easier. Use your prior year’s tax return to serve as a starting point to determine your previous income, deductions and credits reported.