May 2021 - Accel Tax & Business Services

Child Tax Credit Expansion Begins July 15

Congress expanded the child tax credit earlier this year, and the IRS will on July 15 make its first batch of monthly payments to about 39 million families with children. Tens of millions of households will receive up to $250 a month per child between age 6 and 17 and up to $300 per [...]

File Your Tax Returns on Time – Even If You Can’t Pay

Generally, taxpayers should file their tax returns by the deadline even if they cannot pay the full amount due, but if you can't, there are several options. Let's take a look at a few scenarios: 1. An individual taxpayer owes taxes, but can't pay in full by the deadline. If this is the case, file [...]