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Child Tax Credit Payment Delays Blamed on 'Glitch' as IRS Portal Adds New Features parentherald.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from parentherald.com Daily Mail and Mail on Sunday newspapers.
'Surprise' Stimulus Check Payment of $8,000 Due for Families With Kids Under 13 parentherald.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from parentherald.com Daily Mail and Mail on Sunday newspapers.
Share Photo: (Photo : FREDERIC J. BROWN/AFP via Getty Images) The Internal Revenue Services (IRS) has issued a warning to parents about child tax credit scams instigated by thieves who may use the payments to bait clueless victims. In a statement on the IRS site, the agency told parents that they would never initiate contact with individuals to request their financial or personal detail. The IRS said they do not get in touch with the taxpayer via text, email, or social media. If a person receives IRS communications through text, email, or social media, they must report these activities to the agency. ....
Why Excess Payments Could Happen Since the IRS has based the credit on the taxpayers 2020 or 2019 income, they will need to pay the credits back if they make more money on their 2021 tax returns. However, in 2020, many families had lower incomes because of the pandemic job cuts or temporary closure of establishments due to the lockdowns. Tax expert Norman Golden expects that many families will be confused by the free money from the government when they reconcile their taxes, especially if they have gone back to regular work, received a raise from their employers, or had more sources of income where they no longer qualify for the child tax credit. ....