CARES ACT BREAKDOWN PART 1
*Give direct payments of up to $1,200 for individuals and $2,400 for couples, with $500 added for every child, based on 2019 tax returns for those who filed them and 2018 information, if they have not. *The benefit would start to phase out above $75,000 in income for individuals and $150,000 for couples
*Going away completely at the $99,000 and $198,000 thresholds.
**If your income in 2019 was in the phase-out range you would still receive a partial rebate based on your 2019 tax return. However, the rebate is actually an advance on a tax credit that you may claim on your 2020 tax return. **If your income is lower in 2020 than in 2019, any additional credit you are eligible for will be refunded or reduce your tax liability when you file your 2020 tax return next year. $$the bill turns off nearly all administrative offsets that ordinarily may reduce tax refunds for individuals who have past tax debts, or who are behind on other payments to federal or state governments, including student loan payments.$$
$$The only administrative offset that will be enforced applies to those who have past due child support payments that the states have reported to the Treasury Department.$$
** YOU DO NOT HAVE TO APPLY FOR THE STIMULUS CHECK THE IRS HAS ALL YOUR INFO ALREADY ** Call EZ TAX RETURNS ASAP & get started today on filing your 2018 &2019 returns 678-823-0147.
We offer Audit Protection, free second looks, in state and out of state refunds filed, mobile tax preparation & Credit restoration also available. *BEWARE OF SCAMMERS*
You will NOT be contacted by the government by phone, text, email, or any other method of communication to be asked for your SSN and other personal information.
#taxlady #taxseason #taxreturn #incometax #referafriend #writeoffs #IRS #deductions #extension #W2 #1099 #selfemployment #maximumrefund #taxseason2020 #eztaxreturns #taxbossladies #creditrestoration #taxbosslady #calperniaapproved #coronavirus