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So if a taxpayer filed taxes on the new filing deadline — July 15, 2020 — and later wanted to claim a refund or credit on July 14, 2023, which is within the three-year timeframe to claim a ...
As well, the child and dependent care tax credits — which bumped to $8,000 for one child and $16,000 for two or more children in 2021 — are also now back down to the standard $3,000/$6,000 caps.
Pretty much all of the COVID-19-related tax changes and benefits weren't in place last year, which means your refund could be very different from the past few years.
If you are eligible to claim the Earned Income Tax Credit or the Child Tax Credit on your 2021 tax returns, you may not receive your refund as quickly as you expected, even if you file right away ...
The Employee Retention Credit is a refundable tax credit against an employer's payroll taxes. [2] It was established as part of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), signed into law by President Donald Trump, in order to help employers during the pandemic. [3]
According to the IRS, the average tax refund for 2022 is $2,933, as of Mar. 17 -- and the agency has already refunded nearly 54 million overpayments. That's almost an 85% increase over the number ...
If you are one of the 75% of Americans who receive a tax refund annually, 2022 could bring an unwelcome surprise. Your tax refund could be smaller, non-existent, or you may even find that you owe ...
Jul. 23—My column for September 11, 2023, addressed the employee retention credit (ERC). This is a tax credit for employers affected by COVID-19-era business restrictions. The focus of that ...