Another Chance to Claim Tax Credits and Benefits
Over 9 million individuals and families may be qualified for tax credits and benefits but did not claim them on their 2021 tax return. On October 13, 2022, the IRS released a statement that they were sending letters to these people over the coming weeks.
2021 Recovery Rebate Credit, the Child Tax Credit, the Earned Income Tax Credit, and More
The three credits listed above, are the most missed for filers and IRS Commissioner Chuck Rettig says, “We encourage people who haven’t filed a tax return yet for 2021 to review these options. Even if they aren’t required to file a tax return, they may still qualify for several important credits.” The letters are printed in both English and Spanish and will provide brief descriptions about the three credits. Important to remember is that by claiming these benefits there will be no effect on your eligibility to receive federal benefits.
File Without Charge
For those filers who may have incomes of $73,000 or less, the IRS wants to remind you that Free File is available and can be found Here. Free File is sponsored by the Free File Alliance, which is a partnership with the IRS and the tax software industry. This option will remain open until November 17, 2022.
For more information, please reach out to the Professionals at The Center for Financial, Legal, & Tax Planning Inc., at (618) 997-3436.