DC Financial Services

05/24/2023

Beware of ads that promise you big money with the employee retention credit. It’s a real credit, but scammers may tell you you qualify when you don’t. Don’t ...

11/09/2022

01/12/2022

The 2022 tax filing season begins Jan. 24.

12/22/2020

En Estados Unidos los legisladores acordaron emitir pagos de estímulo de 600 dólares y distribuir un subsidio federal de desempleo de 300 dólares durante 11 semanas. Pero ese dinero tardará en llegar.

09/25/2020

Deadlines to register for an Economic Impact Payment are just around the corner

Federal benefit recipients who don’t normally have a filing requirement but do have qualifying children must register by Wednesday, Sept. 30 to receive a $500 catch-up payment per child. Other non-filers have until Thursday, Oct. 15 to register for their Economic Impact Payment.

Anyone using the Non-Filers tool can speed up the arrival of their payment by choosing to receive it by direct deposit. Those who don’t choose direct deposit will get a check.

The deadline to claim a $500 payment for a qualifying child is Wednesday, Sept. 30, 2020.

The deadline applies to individuals who didn't receive $500 per qualifying child earlier this year when they received their own automatic Economic Impact Payment and who receive:

Social Security retirement
Survivor or disability benefits
Supplemental Security Income (SSI)
Railroad Retirement benefits
Veterans Affairs Compensation
Veterans Affairs Compensation and Pension (C&P) benefits
Federal benefit recipients can use the Non-Filers: Enter Payment Info Here tool to get a catch-up payment for a qualifying child if they have NOT done one of the following:

already used the Non-Filers tool to provide information about their qualifying child or
filed their 2019 or 2018 federal tax return
Anyone who filed or plans to file a 2018 or 2019 tax return should NOT use this tool and should file their tax return by the Oct. 15, 2020 deadline.

People who’ve already used the Non-Filers tool to provide info on children don’t need to do anything else. The IRS will automatically make a payment to them in October.

Thursday, Oct. 15, 2020 is the registration deadline to get an Economic Impact Payment this year. Eligible individuals with little or no income who are not required to file a tax return may still qualify to receive an Economic Impact Payment this year, if they use the Non-Filers: Enter Payment Info Here tool by Oct. 15, 2020.

Anyone who misses either of these deadlines will need to wait until next year and claim the payment as a credit on their 2020 federal income tax return.

09/25/2020

Your ITIN may expire before you file a tax return in 2021. All ITINs not used on a federal tax return at least once in the last 3 years will expire on 12/31/2020. All ITINs issued before 2013 with middle digits of 88 (Example: (9XX-88-###X) will expire at the end of 2020.

Todos los ITIN no utilizados en una declaración de impuestos federales al menos una vez para los
años tributarios 2017, 2018 o 2019, vencerán el 31 de diciembre de 2020. Además, todos los ITIN con
dígitos del medio 88 (por ejemplo: 9NN-88-NNNN) vencerán al final de este año. Aquellos cuyos dígitos
del medio son 90, 91, 92, 94, 95, 96, 97, 98 o 99, que fueron asignados antes de 2013 y no han sido
renovados, también vencerán al final de este año.

04/26/2020

CNBC Make It is clarifying seven myths about the coronavirus stimulus checks, from whether or not they are taxed to how long it will take for them to hit your bank account.

04/01/2020

IR-2020-61SP, 30 de marzo de 2020 — El Departamento del Tesoro y el Servicio de Impuestos Internos anunciaron hoy que la distribución de los pagos de impacto económico comenzará en las próximas tres semanas y se distribuirán automáticamente, sin acción requerida por parte de la mayoría de ...

04/01/2020

IR-2020-61, March 30, 2020 — The Treasury Department and the Internal Revenue Service today announced that distribution of economic impact payments will begin in the next three weeks and will be distributed automatically, with no action required for most people.

07/12/2019

Some of those targeted might end up being held in hotel rooms until their travel documents can be prepared. ICE’s goal is to deport the families as quickly as possible.