Mid-Michigan Tax Services

09/01/2021

If you are affected by the advanced child tax credit you can still opt out if you choose. Ter are certain dates this needs to be done by for he next months payment. Go to https://www.irs.gov/credits-deductions/child-tax-credit-update-portal
My hope is that they have made it easier to opt out if you choose to.

Unenroll if you don’t want to get advance Child Tax Credit payments or check if you’re enrolled.

06/24/2021

If you wish to unenroll from the advance child tax credit slated to roll out July 15th with the first monthly payment visit this site.
https://www.irs.gov/credits-deductions/child-tax-credit-update-portal
I can only get so far in this link, but I believe this is also where you register and add dependents and newborns. If you are registering with a newborn, as with all dependents 17 and under, make sure you have the social security number handy or wait and receive the credit for a new born when you file for 2021 taxes.
There is an income limit to the child tax credit so keep this in mind when you register and when the 2021 taxes are filed.
Remember any payments you receive are an Advance to the credit for your taxes when filing for your 2021 taxes.
Have a great summer.

View your eligibility and unenroll from advance payments of the Child Tax Credit.

06/15/2021

You may have received notices about the 2021 Child Tax Credit which is only for tax season 2021. Children 5 and under will receive 3600.00 and children 6 through ages 17 (yes 17) will receive 3000.00. Half of these amounts will paid out in monthly payments and the remainder will remain as the child tax credit on the 2021 tax return.
Parents of new born children will need to contact the IRS to notify them of the new born if you wish to take part of the advance payments. (by the way congratulations from us at MMTS)
You may choose to forgo the monthly payments by contacting the IRS, BUT the way to do this has not yet been revealed. Stay tuned to view the link they are telling us they will provide.
If you discover the link before I get it posted please let me know so I can share it on this page to give others the opportunity to opt out of the monthly installment payments if they choose.
Make it a great summer. We have last year to catch up on.
Take care and God Bless You!

11/18/2020

Each taxpayer / family that received the EIP Economic Income Payment ... 1200 for each qualifying adult and 500 for each qualifying child 1st round and 600 each second round.
Although this payment is not taxable it will be reportable. You need provide your tax preparation person with the amounts you received from the 1st round and the second round. This information will be used to see if you might receive additional benefits ex. new born child in 2020. This may also work against you if you received too much ex. receiving a payment for a deceased individual. Please watch your mail for this form.
Ok False alert on the form mentioned above. There will not be a form sent out but you will need to let us know how much you received in round one in 2020 and round two in early 2021. The tax return will reconcile the amounts if you did not receive some of the Economic Impact Payment (Stimulus payments) You should receive the difference added to your refund. E filing begins Feb 12th

11/18/2020

I hope all of you are doing well. I want to post more this fall before tax season to people to know some of the factors that developed from the pandemic.
For all who were drawing Unemployment over the past months had withholdings taken out. Your unemployment will be taxable and unemployment is also considered "Un-Earned Income" this will affect Earned Income Credit in a Negative way.
More to come

11/30/2018

Our Office

10/02/2016

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01/09/2015

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Mid Michigan Tax Services - For years, Mid-Michigan Tax Services has been providing quality, personalized financial guidance to local individuals and businesses. Our expertise ranges from basic tax management and accounting

12/09/2014

Market place health insurance subscribers. Look for the form 1095-A to come to you. We will need this to process your tax return.

10/28/2014

We are Enrolled Agents unlike many preparers.

Enrolled Agent Information
An enrolled agent is a person who has earned the privilege of representing taxpayers before the Internal Revenue Service by either passing a three-part comprehensive IRS test covering individual and business tax returns, or through experience as a former IRS employee. Enrolled agent status is the highest credential the IRS awards. Individuals who obtain this elite status must adhere to ethical standards and complete 72 hours of continuing education courses every three years.

Enrolled agents, like attorneys and certified public accountants (CPAs), have unlimited practice rights. This means they are unrestricted as to which taxpayers they can represent, what types of tax matters they can handle, and which IRS offices they can represent clients before. Learn more about enrolled agents in Treasury Department Circular 230 (PDF).
http://www.irs.gov/Tax-Professionals/Enrolled-Agents/Enrolled-Agent-Information

An enrolled agent is a person who has earned the privilege of representing taxpayers before the Internal Revenue Service by either passing a three-part comprehensive IRS test covering individual and business tax returns, or through experience as a former IRS employee. Enrolled agent status is the hi…