As part of the American Rescue Plan Act that was enacted in March 2021, the child tax credit amount has increased for certain taxpayers.

The past year has displayed unbridled transformation to our lives. COVID-19 required extensive financial intervention from our government, which now complicates our 2020 tax filings. Learn about some of these changes or reach out to a tax professional for assistance.

The year 2020 came jam-packed with disruptions that, for many people, would disrupt our work-life balance, physical and mental health, and create new conventions for every aspect of our daily lives. As we now find ourselves in the pandemic year’s wake, don’t get blindsided by the latest tax law alterations.

On Friday, January 16th, the Internal Revenue Service announced a delay to the start of the tax filing season until February 12th. Normally, the IRS opens for the season mid-late January. The reason given for the delay is so that the IRS’s systems can be updated to handle tax changes from December 27th and the second round of stimulus payments.