Fast Tax Service Inc.

IRS opens for Individual Returns on January 24th
The Internal Revenue Service announced that the nation's tax season will start on Monday, Jan. 24, 2022, when the tax agency will begin accepting and processing 2021 tax year returns.

The January 24 start date for individual tax return filers will allow the IRS time over the course of the coming weeks to do additional programming and testing that is critical to ensure that IRS systems will run smoothly this filing season and will help taxpayers claim the remainder of their Child Tax Credit and remaining stimulus funds in a timely manner when filing their 2021 returns.

The IRS anticipates that most taxpayers will receive their refund within 21 days of when they file electronically, barring any issues with processing their tax return. The IRS urges electronic filing to avoid delays in processing and to utilize information letters provided by the agency when filing their returns to avoid errors that can lead to delays.

Posted 3 hours ago by Unknown

THE IRS WILL BE SENDING OUT NOTICE 6419 TO ALL THAT HAVE RECEIVED ADVANCE CHILD TAX PAYMENTS IN 2021. PLEASE BRING THAT LETTER WITH YOU.

Advance Child Tax Credit Payments (ACTCPs) – Letter 6419 due out in January
Did your customers receive at least one (1) Advance Child Tax Credit Payment (ACTCP) over the summer/fall of 2021?
If so, the IRS will be sending them Letter 6419 in January. The information in this letter is important as you prepare your customers’ 2021 tax return. It shows the total amount of payments received, which will assist in calculating what they are eligible for as part of their TY 2021 taxes. If the taxpayer(s) do not have their 6419, the payment amounts can also be found in the CTCUp Portal. Many taxpayers like to file as early as possible so authenticating through the portal may be the fastest way to ensure the accuracy of these payments when filing for 2021.
If the accurate amounts from the 6419 letter or CTCUp (for both taxpayer and spouse, if applicable) are not entered, the return will fall into error processing by IRS, delaying the refund deposit.
For more info, please visit the IRS Site, Advance Child Tax Credit Payments.

Happy Holidays to all. May 202 # be a better year to all of us.