ISCAH Multi-services

08/18/2022

01/28/2022

The American Rescue Plan expanded the amount of Child Tax Credit (CTC) allowed for 2021. A portion of the child tax credit was sent as an advanced monthly payment, unless the taxpayer(s) opted out. Taxpayers should look for letter 6419 from the IRS, which shows the total amount of ACTC payments issued in 2021. Advance CTC payments must be reconciled on the 2021 tax return. Excess advance payment amounts received will be required to be repaid in certain circumstances. To reconcile amounts received for the advance child tax credit, entries must be made on the 8812 screen in Drake Tax 2021.

01/11/2022

Tax Season Begins January 24
You can start transmitting returns to Drake once you've installed the January release. The IRS will begin accepting and processing returns Monday, January 24, 2022. Returns sent to Drake before this date are being held in a queue and will be transmitted to the IRS as soon as the IRS is ready to process.
When the IRS starts processing returns, acknowledgments may be unpredictable due to the high volume of returns being processed.

05/23/2021

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04/23/2021

IRS Announcement Regarding Payments
The IRS identified a delay in processing some payments e-filed with Form(s) 1040 balance due, 1040-X amended, and 1040-ES. The IRS has resolved this issue and pending payments are now being processed. Taxpayers should not resubmit these payments. For more details, please read the IRS Quick Alert.