CPA highlights important tax changes and COVID-19 financial assistance

CPA highlights important tax changes and COVID-19 financial assistance
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Updated: 7:23 PM CDT Apr 17, 2021
CPA highlights important tax changes and COVID-19 financial assistance
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Updated: 7:23 PM CDT Apr 17, 2021
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SHERMAN: THIS WEEK HAS BEEN BUSY WHEN IT COMES TO YOUR TAXES AND MONEY. BETWEEN THE COVID FUNERAL ASSISTANCE AND PAYMENTS TO FAMILIES AND NOW YOU ARE RUNNING OUT OF TIME. IF YOU HAVE NOT FILED YOUR TAXES YET, KIMBERLY WASHINGTON JOINS US TO GIVE US AN INSIGHT ON THESE IMPORTANT CHANGES YOU MAY NEED TO KNOW ABOUT. EXPLAIN TO US WHAT KIND OF HELP IS OFFERED TO THOSE WHO HAVE LOST A LOVED ONE TO COVID-19. KIMBERLY: IF YOU LOST A LOVED ONE DUE TO COVID 19, YOU MAY BE ENTITLED UP TO $9,000 IN FINANCIAL ASSISTANCE FOR FUNERAL AND BURIAL COSTS. YOU WOULD NEED A CONTACT THE PHONE NUMBER. YOU WANT TO MAKE SURE YOU HAVE YOUR LOVED ONE’S DEATH CERTIFICATE AND PROOF OF EXPENSES YOU PAID. YOU WANT TO HAVE THOSE DOCUMENTS IF YOU ARE REIMBURSED AS WELL. SHERMAN: THE IRS JUST ANNOUNCED THE CHILDCARE TAX CREDIT PAYMENTS WILL START IN JULY. WHAT SHOULD PEOPLE KNOW AND HOW CAN A FAMILY QUALIFY? KIMBERLY: THE FIRST THING YOU WANT TO MAKE CERTAIN IS YOU WANT TO MAKE SURE IF YOU HAVE A CHILD 17 AND UNDER, THIS PAYMENT WILL START IN JULY OF THIS YEAR AND LAST UNTIL THE END OF THE YEAR. YOU DO HAVE TO REGISTER ONLINE AT IRS.GOV. IF YOU ARE A FAMILY WITH QUALIFYING CHILDREN, YOU WANT TO MAKE SURE YOU DO REGISTER. MAKE SURE YOU KEEP AN EYE OUT FOR IT. IF YOU HAVE A CHILD UNDER THE AGE OF SIX, YOU COULD EXPECT A PAYMENT OF $300 A MONTH. IF YOU HAVE A CHILD AGE SIX TO 17, YOU CAN EXPECT TO RECEIVE $250 A MONTH. SHERMAN: THE IRS ANNOUNCED $1.3 BILLION IN UNCLAIMED TAX REFUNDS FOR PEOPLE WHO HAVE NOT FILED 2017 RETURNS. WHAT SHOULD PEOPLE KNOW ABOUT THAT? KEMBERLY: THE BIGGEST THING IS YOU ARE RUNNING OUT OF TIME. YOU HAVE UNTIL MAY 17. IF YOU DON’T DO IT BY MAY 17, YOU WILL LOSE YOUR TAX REFUND. MAKE CERTAIN YOU DO FILE. YOU CAN SEARCH FOR FREE FILING AND YOU CAN FILE YOUR TAX RETURN FOR FREE IF YOU EARN LESS THAN $72,000. IF YOU ARE SOMEONE WHO HAS YET TO FILE YOUR 2017 TAX RETURN, YOU ARE RUNNING OUT OF TIME TO RECEIVE YOUR TAX REFUND. SH

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, Child Tax Credit , Covid Funeral Assistance , Kemcents , Tax Refund , Pa , குழந்தை வரி கடன் , பா ,