April 18, 2021

tax

Child tax credit checks for how much? How to calculate your family’s monthly payment

8 hours ago

Calculate how much money you could get from the 2021 child tax credit.


Sarah Tew/CNET

The IRS is on track to send the newly enhanced 2021 child tax credit through monthly payments, a task it will begin organizing after sending more stimulus check “plus-up payments” and processing more 2020 tax returns. Luckily, you don’t have to wait until the checks start to arrive in July to estimate how much money you could get monthly with the new child tax credit. And since the stimulus law governing the qualifications for families and eligible children is so

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OSHA fines Lynn tax business $136K for prohibiting face masks in office

1 day ago

A Lynn tax preparation business is facing $136,532 in fines from the U.S. Department of Labor after an inspection found its owner prohibited employees and customers from wearing face masks while in the office.

The Occupational Safety and Health Administration cited Ariana Murrell-Rosario, owner of Liberty Tax Services, for “willfully failing to develop and implement measures to prevent the spread of the coronavirus,” the agency said in a press release on Tuesday.

According to OSHA, Murrell-Rosario banned masks despite the state’s mask order that required they be worn in places of business; made employees and customers work within six feet

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WATCH NOW: Spotsylvania supervisors keep real estate tax same, lower personal property | Local News

2 days ago

Keeping the real estate and property tax rates the same and the initial failure of the meals tax increase turned the budget surplus into a deficit. That forced the board to haggle and make cuts in other areas, such as a $345,000 mowing contract and training and mileage expenditures for staff.

Much of the board’s discussions on the budget focused on school funding, which totals $311.6 million in local, state and federal funds. Local funding for the school system totals $132.3 million.

Three supervisors—Frazier, Chris Yakabouski and Gary Skinner—focused on filling a $2.1 million gap in the adopted School Board

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IRS $3,000 child tax credit: New timeline for monthly payments

2 days ago

Details on the child tax credit payments are still in the works, but money is expected to start going out in July. Here’s what we know.


Sarah Tew/CNET

In just a few months, the IRS will start sending out the expanded child tax credit payments to eligible families with qualifying dependents. If you qualify, you’ll start receiving monthly payments from July to December, per the IRS, and the rest of your money will come with your 2021 tax refund.

Payments will range between $500 and $3,600 for each dependent, depending on age (see below). And if you have

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New child tax credit update: Here’s how much money you’ll get each month

3 days ago

Calculate how much money you could get from the 2021 child tax credit.


Sarah Tew/CNET

After weeks of waiting, we finally know the child tax credit payments will begin in July with “payments going out on a monthly basis,” IRS Commissioner Charles Rettig said Tuesday. If you’re eligible, half of your 2021 child tax credit will be sent out each month from July to December, with the other half arriving after you file your 2021 tax return. We took out all the guesswork for how much you can get by creating a calculator tool to help you estimate how

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Child tax credit 2021: Calculating the total is a brain-buster, but it could bring more than stimulus checks

1 week ago

Calculate how much money you could get from the 2021 child tax credit.


Sarah Tew/CNET

Figuring out how much you could expect from the third stimulus check is hard enough, with new income limits and more dependents counting toward the payment this time. (And plus-up payments, if you’re due more.) The new child tax credit is even more confusing, which will calculate the payments based on your income and the age of your kids and then dividing payments up over the second half of 2021 and into 2022.

But it’s worth getting your arms around, as the expanded

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