The Tax Cuts and Jobs Act was passed by Congress and signed by the President on 12/22/17. The stated objectives of the legis-lation are to reduce taxes for individuals and businesses while simplifying the tax code. This letter outlines the major changes for individuals beginning in tax year 2018
The Child Tax Credit is being doubled for 2018
The Child Tax Credit is available to be claimed for qualified children under age 17. And you can claim it for all of your qualifying children in a given tax year. To be clear, the child must be under 17 at the end of the year to claim the credit.
For 2018, the recently passed GOP tax reform bill doubles the amount of the Child Tax Credit from $1,000 to $2,000 per qualifying child.
The tax extension deadline is looming. 11.6 million taxpayers who filed for an extension (up 0.09% from last year)-the deadline to file is just around the corner!
Schedule today and don't put it off any longer.
File all tax returns that are due, regardless of whether or not you can pay in full.
Why You Should File Your Past Due Return Now
Avoid interest and penalties.......
File your past due return and pay now to limit interest charges and late payment penalties.