2021 tax filing season officially underway
Combined with millions of tax returns backlogged from last year, this tax season might not be the year to put filing off until the last minute.
“Last year, from figures I saw from a congressional report that just came out, there were over 200 million phone calls to the IRS,” Partner with Ashland CPA Advisors Bruce Ashland said. “Only 30 million were answered.”
In order to receive your tax returns as soon as possible, officials recommend filing your taxes early and reminding filers to fill them out carefully to avoid any delays.
For the 2021 filing season in particular, COVID-related material shows up frequently, including the new Child Tax Credit. The Child Tax Credit was increased to help families: $3,600 for children ages 5 and under and $3,000 for children ages 6-17.
One of the most important things taxpayer families need for this season is Letter 6419, which details the advance payments parents received.
The letters are distributed through the mail, with payment information also available through an IRS portal online.
“Then, when you fill out the form for the Child Tax Credit, which this year has expanded from one page to five pages, take your time,” Ashland recommends. “Answer all the questions correctly, be thorough in it and you should have pretty good luck in getting your refund back in a timely manner.”
More important for taxpayers above filing early is to file right the first time.
Seeking help from the IRS, Ashland says, will be difficult this tax season and that any errors could delay 2021 returns by a year.