5 Star Tax Pros

Don't get caught by surprise!! If you normally qualify for Earned Income Credit (EIC) when filing your taxes but you collected unemployment in 2020. Your EIC may be reduced or eliminated. Please call for more info 424-750-9290. We can help you understand how this works.

Did you miss the deadline to register online for the Economic Impact Payment? You may still be eligible to receive a payment in 2021 if: You did not register online, by mail and did not get a payment in 2020 or, You received a payment, but it wasn’t the full amount of the Economic Impact Payment. The maximum credit is $1,200, or $2,400 if married filing jointly, plus $500 for each qualifying child. Then:... When you file a 2020 Form 1040 or 1040SR you may be eligible for the Recovery Rebate Credit. Save your IRS letter - Notice 1444 Your Economic Impact Payment - with your 2020 tax records. You’ll need the amount of the payment in the letter when you file in 2021. Call us today for more information 424-750-9290 (direct) See more